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GBPJPY Nears Target – Forecast for Today, June 13, 2024

by Jennifer

GBPJPY Price Analysis

Expected Scenario

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The GBPJPY pair has maintained its bullish trajectory, consistently closing above the $198.50 support line. This pattern has led to the formation of new bullish waves, bringing the pair closer to the initial target at $201.35.

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Market analysts anticipate a surge in positive momentum, potentially surpassing the $201.35 level and paving the way for the next major target at $201.90. However, failure to breach the $201.35 mark may trigger a temporary correctional bearish movement, leading to a decline towards $199.55 before establishing new bullish targets.

Expected Trading Range

The expected trading range is projected to be between $200.60 and $201.90.

Trend Forecast: Bullish

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