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The GBPJPY currency pair has resumed its downward movement, failing to sustain momentum after reaching the 191.80 target. The pair has since taken advantage of persistent negative pressure, forming a new bearish wave that brought the price to 191.50.
The 192.35 level has emerged as a key resistance, with the ongoing negative momentum signaled by major technical indicators. This supports expectations of further declines, with the next target at the 38.2% Fibonacci retracement level of 190.80. A break below this level could lead to deeper losses, potentially extending towards the next support at 190.00.
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The expected trading range for today is between 190.80 and 192.35.
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Trend Forecast: Bearish
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