The GBPJPY still bullish – Forecast today – 11-4-2024

GBPJPY Pair Analysis

Expected Scenario

• The GBPJPY pair returned to form some mixed sideways trades, fluctuating near 192.00 without recording any new positive target, affected by stochastic exit from the overbought areas.
• Forming a minor bullish channel and holding above its support line at 191.00 allows us to wait to gather positive momentum to activate the bullish attack. We expect to target 192.85 followed by 193.50 levels.

Expected Outcome

The GBPJPY pair is expected to continue forming mixed sideways trades near 192.00, awaiting positive momentum to activate a bullish attack. Targets include 192.85 followed by 193.50 levels, supported by the formation of a minor bullish channel and holding above the 191.00 support line.

Expected Trading Range

Between 191.60 and 192.85.