GBPJPY begins a corrective decline

Hello everyone,

GBPJPY NEW FORECAST

Yesterday, the pair's price activated the downward corrective attack to move away from the stable barrier at 188.60, thus touching the first stable corrective target at 187.05 and settling near it. We notice that the Stochastic indicator is currently sneaking towards the oversold level to increase the negative pressure on the current trading and invite us to favor more negative trading, thus targeting the level. 186.80, reaching additional stable support at 18.27.



As for the rush of trading above 187.70 and presenting it to a positive close, this may contribute to renewing the upward attempts again, and we expect the price to accumulate additional positive momentum and the price to attack the barrier with the aim of finding an outlet to resume the upward attack in the trading of the coming period.


Resistance prices: 188.56 & 189.08 & 189.56
Support prices: 186.27 & 185.53 & 184.62


The expected general trend for today: corrective bearish