Expected Scenarios and Trading Range
Scenario 1: Correctional Decline Ended
- GBPJPY pair concludes recent correctional decline with multiple closings above the bullish channel’s support line at 191.30.
- Formation of bullish waves and confirmation of maintaining bullish bias with a reach of 194.12.
Scenario 2: Bullish Momentum
- Attempt to form additional support at the 193.00 level.
- Positive momentum provided by stochastic indicators suggests further bullish attempts.
- Potential targets include 194.35 and 194.95 levels.
Trading Range
Expected range for today: 193.00 - 194.95
Trend forecast: Bullish