The GBPJPY tests the support – Analysis – 11-11-2022
Economies.com
2022-11-11 08:22AM UTC
The GBPJPY pair resisted the negative pressures caused by stochastic decline below 50, to end the negative rebound by testing 164.50 and hold above it as appears on the chart.
The price needs new positive momentum to assist to renew the bullish rally to manage to breach 166.80 and start targeting the positive stations again, while declining below the mentioned support will force the price to suffer additional losses in the near term period by crawling towards 163.80 and 163.00 levels.
The expected trading range for today is between 164.60 and 166.80
The expected trend for today: Bullish
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