The GBPJPY repeats the pressure on the barrier – Analysis – 25-5-2023

The GBPJPY pair returned to provide clear pressures on 172.50 barrier, attempting to find a way to resume the main bullish attack that depends on the main stability within the bullish channel that appears on the chart.

We recommend to stay aside and wait to confirm the trend by monitoring the next close, as breaching the barrier will manage the price to reach new positive stations that start at 173.80, while settling below it will reactivate the domination of the correctional bearish bias, to expect declining towards 171.40 and 170.60 levels.

The expected trading range for today is between 172.80 and 171.60

The expected trend for today: Bullish