The GBPJPY settles within intraday sideways track – Analysis – 30-8-2021

The GBPJPY pair formed sideways fluctuation recently by settling near the moving average 55 that forms additional barrier at 151.30, affected by the contradiction of stochastic that settles near 80 level now.

We remind you that the correctional bearish track will remain valid as long as the mentioned barrier remains intact, to increase the chances of declining towards 149.80 followed by reaching the bullish channel’s support line at 148.70, while breaching the current barrier will cancel the negative overview to manage to renew the bullish attempts by moving towards 152.20 first.

The expected trading range for today is between 151.30 and 150.00

The expected trend for today: Bearish