The GBPJPY provides positive signal – Analysis – 31-3-2023

The GBPJPY pair surpassed the bearish channel’s resistance yesterday at 164.10, achieving additional gains by reaching 165.45 level followed by turning to fluctuate near 164.50, while confirming the positivity requires getting new positive close above the breached resistance, to manage to renew the bullish attempts and target 166.00 followed by reaching the additional barrier at 166.70.

On the other hand, turning back to fluctuate below 164.00 will cancel the bullish attempts to form strong negative waves and suffer many losses by crawling towards 163.20 level, followed by reaching the MA55 at 162.05.

The expected trading range for today is between 164.00 and 164.50

The expected trend for today: Bullish