The GBPJPY decreases losses – Analysis – 27-9-2022

The GBPJPY pair continued to provide correctional bullish trades to decrease the losses caused by rallying above 157.25 level, noting that the main stability below 158.70 resistance and the negative momentum coming by the major indicators allow us to keep the negative overview to attempt to reach 153.60 and 151.60 levels.

Note that stochastic exit from the oversold areas might force the price to provide mixed trades until gathering the required additional negative momentum to start activating the bearish track and reach the suggested negative stations.

The expected trading range for today is between 156.30 and 153.60

The expected trend for today: Bearish