The GBPJPY tends towards the positivity – Forecast today – 5-4-2024

GBPJPY Pair Analysis

Expected Scenario

• The GBPJPY pair formed a temporary negative rebound after touching 192.25.
• It suffered some losses and settled near 191.00, aiming to gather additional positive momentum.

Expected Outcome

The bullish track will remain valid as long as the 190.15 support line remains intact.

Expect rallying towards the 192.00 level soon, followed by an attempt to breach the additional barrier at 192.55.

Declining below the mentioned support will cancel the positive overview, activating the correctional bearish track again.

This could result in significant losses, potentially extending towards 189.55 and 189.00 initially.

Expected Trading Range

Between 190.40 support and 192.00 resistance.