GBP JPY fluctuates below the resistance 9/12/2013

The pair ended the correctional session by placing 165.70 level to be affected by the general bullish bias again and reach 168.75, which makes us expect forming sideways bias conditioned by the stability of the main resistance around 169.55, until the price being released bearishly to reach the waited target around 164.85

Stochastic still moves within negative range to support forming bearish bias again to resume the correctional bias in the upcoming period to reach the previously mentioned target, noticing that the price attempt to breach the resistance line will cancel the bearish overview to regain the positive momentum and reach new positive levels starting from 170.00

Expected trading range is between: 169.00 and 166.40

Expected trend for today: Bearish