The GBPJPY suffers additional losses – Analysis – 13-5-2022
Economies.com
2022-05-13 08:16AM UTC
The GBPJPY pair’s negative trades extended below the additional support at 157.85, suffering additional losses by touching 155.60 level followed by attempting to cover some losses by moving towards 157.50.
Despite the consolidation within the bullish channel, the continuous fluctuation below the moving average 55 might force it to renew the negative attempts in order to reach 155.00, while starting the bullish requires breaching 159.60 level and getting positive close above it, to increase the chances of reaching positive stations in the upcoming period.
The expected trading range for today is between 158.40 and 156.20
The expected trend for today: Bearish
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