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The GBPJPY suffers big losses – Analysis – 2-8-2022
The GBPJPY pair surrendered to the frequent negative pressures to form strong negative attack and suffer big losses by touching the target at 159.85, facing 50% Fibonacci correction level.
Despite the main stability within the bullish channel, the continuous negative momentum coming by the major indicators might force the price to crawl below the current obstacle in order to target new negative stations that might start at 159.10 followed by reaching the bullish channel’s support line at 157.75.
The expected trading range for today is between 161.05 and 159.50
The expected trend for today: Bearish
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