GBP JPY declines towards the support 24/10/2013

Stochastic negative effect continued, to notice that the price hit the initial support level around 156.80, to expect the attempt to regain new positive momentum to be affected by the bullish scenario again is the previous support settled to achieve 160.20 as a main target.

Carefully note that the price attempts to break below the current support level will makes us stop the bullish expectation to be affected by a temporary negativity which might push the price to reach negative level around 154.30

Expected trading range is between 156.75 and 158.50 

Expected trend for today: bullish if 156.75 remains stable.