The GBPJPY still bearish – Forecast today – 3-4-2024

Economies.com
2024-04-03 06:14AM UTC

Expected Scenarios:

  1. The GBPJPY pair formed sideways trades after facing the 190.15 level.
  2. Attempts to resume the negative attack were hindered, with stability near the 190.70 level.
  3. Attempting to gather additional negative momentum to confirm continuation of negativity for upcoming trading.
  4. Importance of settling below the initial barrier at 190.80.
  5. Stochastic fluctuation near 20 level increases chances of attacking the mentioned obstacle.
  6. Breaking the barrier will open the way to resume the negative attack.
  7. Expectation of reaching 189.55 soon, followed by attempting to test the next support at 189.05.

Expected Trading Range:

  • The expected trading range for today is between 191.00 and 190.15.

Trend forecast: Sideways

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