The GBPJPY needs new negative momentum – Analysis – 23-3-2023
Economies.com
2023-03-23 06:07AM UTC
The GBPJPY pair ended yesterday by settling below the additional barrier 162.85, to confirm keeping the domination of the previously suggested bearish bias and consolidate near 161.00 now, attempting to get the negative momentum by moving below the MA55.
We notice that the price is forming new bearish channel recently, allowing us to wait to gather the additional negative momentum and start targeting the negative stations by reaching 159.70 followed by repeating the pressure on the additional support at 158.60, in order to find a way to resume the negative trades in the upcoming period.
The expected trading range for today is between 162.30 and 159.70
The expected trend for today: Bearish
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