The GBPJPY shows sideways fluctuations – Analysis – 17-11-2022

The GBPJPY pair kept its sideways stability within the dominating levels represented by 166.80 resistance and the moving average 55 that forms additional support at 164.50, thus, we will keep our neutrality and wait to surpass one of the mentioned levels to manage to detect the next main target.

We remind you that declining below the support will force the price to suffer additional losses that start at 163.00, while breaching the resistance and holding above it will support the domination of the bullish bias again, to expect targeting 167.90 initially.

The expected trading range for today is between 166.60 and 164.80

The expected trend for today: Neutral