The GBPJPY repeats the sideways fluctuation – Analysis – 10-8-2022

The GBPJPY pair failed to confirm breaching 163.45 level, to form new sideways fluctuation without recording any new positive target, and despite the continuous positive momentum coming by the major indicators, the stability of the barrier might force it to form temporary negative rebound to test the initial support at 162.05 before achieving any new positive target.

These factors allow us to suggest the negative fluctuation, depending on the stability of the mentioned barrier, while getting positive close above it will open the way to start achieving the positive gains by moving towards 164.05 followed by reaching 164.75 as a first main station for the bullish track.

The expected trading range for today is between 163.65 and 162.80

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The expected trend for today: Bearish