The GBPJPY touches the first target – Analysis – 1-2-2023

The GBPJPY pair started to react to the major indicator’s negativity, to notice its slow decline and record the first target at 159.80 and settles above it, while in general, we will keep our bearish overview as long as 162.10 forms the additional resistance, while the major indicators provide the negative momentum to increase the chances of targeting the next negative station at 158.60.

Note that succeeding to break 158.60 and getting negative close below it will open the way to resume the negative attack and head to 157.80 as a first additional target.

The expected trading range for today is between 161.00 and 158.60

The expected trend for today: Bearish