The GBPJPY settles within temporary sideways range – Analysis – 24-11-2021

The GBPJPY pair formed temporary sideways trades due to the contradiction between the main stability within the bullish channel and the consolidation of 154.50 barrier, expecting to form new negative fluctuation in order to press on the moving average 55 at 152.80, while breaking it might extend losses towards 152.00 to test the main bullish channel’s support line.

On the other hand, breaching the mentioned barrier and holding above it will confirm regaining the bullish bias, to expect forming strong positive rally and start recording many gains by moving towards 155.20 and 156.00 levels.

The expected trading range for today is between 154.50 and 152.80

The expected trend for today: Bearish