The GBPJPY repeats the pressure on the resistance – Analysis – 5-5-2021

The GBPJPY pair could not manage to test the additional resistance 151.80, to notice providing new pressures on it in order to regain the bullish bias again, while we recommend monitoring the price behavior in the next hours and wait the next close to manage to confirm the next trend for the near term and medium term period.

Succeeding to confirm the breach will allow the price to form new bullish rally to target 153.00 and 153.80 levels, while settling negatively below this resistance will increase the chances of forming correctional bearish waves, to expect declining towards 150.20 initially.

The expected trading range for today is between 151.10 and 152.40

The expected trend for today: Neutral