The GBPJPY records big gains – Forecast today – 26-4-2024

GBPJPY Price Analysis

Expected Scenario

• The GBPJPY pair succeeded to keep the bullish track despite the attempt of some major indicators to provide the negative momentum, to notice testing the additional support at 194.35 followed by forming strong bullish rally to achieve many gains by reaching 195.35.
• We expect to face difficulty to form new bullish waves now due to forming solid resistance at 195.45, which allows us to stay neutral and continue monitoring the price behavior to manage to detect the expected trend for the near-term and medium term period, as the stability of the resistance might activate the correctional bearish track to decline towards 194.70 and 194.40 levels, while breaching the resistance will open the way to record new gains that might start at 195.80 followed by reaching the next main target at 196.38.

Expected Trading Range

Between 194.80 and 196.45