GBP JPY contradicts the indicators 29/8/2013

The pair kept the stability above the moving average 55 in yesterday’s trading achieving 151.80 as appears in the above image, to notice the contradiction between yesterday’s trading and the stability of Stochastic negatively around 20 level, supporting the sideways bias domination in the upcoming period until the indicators move in one track.

Therefore, forming bullish wave for Stochastic is required to continue expecting the positivity to achieve 153.40 again, while if the price was affected by Stochastic negativity it might head towards the main support level at 149.90

Expected trading range is between 150.00 and 152.30

Expected trend for today: bullish if the support level remains intact.