The GBPJPY pair repeated the negative closings below the bullish channel’s resistance at 156.25, to confirm ending the bullish attack and increase the chances of starting the previously expected correctional bearish track, while the price needs new negative momentum to ease the mission to decline towards 154.40 initially, followed by extending losses towards the initial support 153.00.
We remind you that the price needs to surpass the current resistance to confirm moving to new bullish track and start targeting many positive levels that start at 156.80 and 157.60 levels.
The expected trading range for today is between 156.25 and 154.40
The expected trend for today: Bearish