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The GBPJPY needs a new positive momentum– Analysis – 24-2-2023
The GBPJPY pair didn’t succeed to resist the negativity that come from stochastic exit from the overbought level, which forces it to form a temporary negative rebound hitting 161.20 level, the current stability below the moving average 55 might force the price to keep providing weak sideways fluctuation until its succeed to surpass 162.20 level, which allows it to achieve more of the positive gains by reaching 163.50 initially, to extend the trading to 164.50.
note that the price decline below 160.60 level and holding below it, which will force it to activate the bearish track to begin targeting the negative stations near 159.60 reaching 158.60 support.
The expected trading range for today is between 160.90 and 163.00
The expected trend for today: Bullish
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