GBP JPY attempts negatively 17/12/2013

The pair remains trading below the main resistance level around 170.00 to notice the stability of the trading around 168.00, therefore we keep our bearish expectations in the near period to remain waiting for achieving the initial support level at 165.40 for today if the main resistance level remains intact.

Stochastic supports the bearish expectation by approaching from 20 level to provide the negative support for the correctional bias in the near period to remain waiting for achieving 165.40

Expected trading range is between 168.50 and 165.20 

Expected trend for today: bearish