The GBPJPY surrenders to the negative pressures – Analysis – 22-4-2021

The GBPJPY pair hinted surrendering to the negative pressures by moving away from 151.85 resistance, to notice forming clear negative fluctuation near 150.25, also, stochastic continues to provide the negative momentum by crawling below 50 level, supporting the bearish overview, expecting to target 149.50 level initially, followed by extending losses towards the additional support near 147.85.

Note that resuming the bullish attack requires jumping above the mentioned resistance, to ease the mission of forming strong bullish waves that might extend towards 152.90 and 154.10 levels.

The expected trading range for today is between 151.20 and 149.50

The expected trend for today: Bearish