The GBPJPY is under the negative pressure– Analysis – 16-8-2022
Economies.com
2022-08-16 07:13AM UTC
The GBPJPY pair touched the negative target at 160.00 this morning, showing its affection by the negative pressures that come from providing negative momentum by the main indicators, besides the repeated stability below 38.2% Fibonacci correction level at 162.05.
We expect forming some of the sideways trading, to attempt to resume the bearish correctional attack by reaching 50% Fibonacci correction level near 159.80, to target new negative levels that might begin at 159.25 reaching 157.90 in the medium period trading.
The expected trading range for today is between 161.30 and 159.80
The expected trend for today: Bearish
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