GBP/JPY Analysis

[ArwaIbrahim]

The GBP/JPY pair returned to form weak sideways trades, postponing the bullish rally due to its consolidation below the 183.50 barrier to notice approaching the additional support at 181.50. Also, the contradiction between the major indicators by a stochastic decline below the 50 levels confirms surrendering to the domination of the sideways bias for the near-term period while declining below the current support and providing a negative close to confirm the preparation to form new bearish waves and suffer additional losses that might extend towards 180.80 and 180.10. The expected trading range for today is between 181.60 and 182.20.