The GBPJPY repeats the negative closings – Analysis – 28-7-2022

Despite the GBPJPY pair’s attempt to form some positive trades, getting new negative close below 165.30 barrier allows us to keep the negative overview for the near term and medium term period, while gathering the negative momentum will allow the price to continue the negative attack to target 164.00 level initially followed by waiting to move towards 163.40 that forms the first main target for the bearish bias.

We remind you that the price attempt to provide positive close above the current barrier will cancel the negative overview, to start suggesting the bullish attempts and manage to achieve many gains that start at 166.20 and 167.00.

The expected trading range for today is between 165.40 and 163.40

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The expected trend for today: Bearish