The GBPJPY pair activated the correctional bearish track by settling frequently below 163.40 obstacle, to achieve the previously suggested negative targets by moving towards the moving average 55 located near 161.80.
In case the moving average 55 consolidated and formed additional support that will assist to renew the bullish attempts, to expect renewing the pressure on the mentioned obstacle, while surpassing it will push the price to target many positive stations by reaching 164.05 and 164.75 levels.
The expected trading range for today is between 161.80 and 163.60
The expected trend for today: Bullish