The GBPJPY postpones the bullish attack – Analysis – 6-7-2022

The GBPJPY pair failed to hold above 164.60 level, which forced it to postpone the bullish attack by forming correctional bearish waves, suffering clear losses by reaching 161.50.

We notice stochastic crawl towards 20 level, to increase the chances of gathering the negative momentum, allowing us to suggest more negative trades that might target 160.80 followed by reaching 50% Fibonacci correction level at 159.55.

The expected trading range for today is between 162.80 and 160.80

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The expected trend for today: Bearish