The GBPJPY surrenders to the barrier’s stability – Analysis – 11-7-2022

Despite the GBPJPY pair’s recent bullish waves, the frequent negative consolidation below 164.60 barrier continues to hinder the chances of renewing the bullish attack, which allows us to keep the correctional bearish overview that might target 162.80 followed by reaching 160.00 in the medium term period.

On the other hand, the continuous positive momentum coming by the major indicators and getting positive close above the mentioned barrier form factors that agree the domination of the bullish bias, to manage to achieve clear gains by moving towards 165.60 followed by reaching 167.30.

The expected trading range for today is between 164.60 and 162.80

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The expected trend for today: Bearish