The GBPJPY is slow– Analysis – 11-5-2022

The GBPJPY pair moves slowly since the last period, as it suffered from negative pressures compared by the main stability within the bullish channel’s levels in the above image, our bearish correctional suggestion depends on the stability of the barrier near 164.20, the continuation of providing negative momentum by stochastic makes us expect reaching 159.60, then attempt to test the extra support at 157.85.

While the price success to rally above 161.60 will delay the bearish correctional attack, to form some temporary positive waves, in order to test the mentioned extra barrier before recording any new negative target.

The expected trading range for today is between 161.60 and 159.60

The expected trend for today: Bearish