GBP JPY hits the first target 22/4/2013

The pair kept the stability above 150.20 in Friday’s trading achieving the first suggested target around 152.20; therefore we keep our expectation to achieve the second target around 153.80 if the initial support 150.80 remained intact.

Stochastic gets rid of the overbought level keeping the positive trading is the dominant and increasing the expected positive momentum in the near and medium period.

Expected trading range is between 151.00 and 153.80

Expected trend: bullish