The GBPJPY pair formed new bullish wave yesterday to decrease the previous losses by renewing the pressure on 166.80, reminding you that the continuous fluctuation below this barrier will force the price to renew the correctional negative trades that might target 165.40 followed by 164.50 levels.
On the other hand, breaching the barrier and holding above it will confirm regaining the bullish bias, to start forming strong positive waves in order to reach 168.00 and 169.10.
The expected trading range for today is between 166.80 and 165.40
The expected trend for today: Bearish