GBPJPY reaches key support within bullish channel – Forecast | 16-01-2026

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The GBPJPY pair faced strong bearish pressures yesterday, which forced it to break extra support at 212.55, to reach the main bullish channel’s support at 211.50, which forms a detecting key for the main trend in the upcoming trading.

The stability above the bullish channel’s support and stochastic attempt to provide bullish momentum that might help it to renew the bullish attempts that might target 212.35 and 212.70, while the decline below the current support and providing negative close will confirm its move to the negative track, to suffer big losses by reaching 211.05 and 210.60.

The expected trading range for today is between 211.40 and 212.70

Trend forecast: Bullish

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