GBP JPY is above the moving average 29/1/2013
Economies.com
2013-01-29 07:11AM UTC
The pair continued in the fluctuation in yesterday’s trading to break the bullish channel support level at 152.55, after the failure to breach the resistance level around 144.50 to settle above the moving average at 141.10.
We recommend you to stay aside during today’s trading to monitor the price to define the true trend.
Carefully note that breaking below the moving average makes the price takes the bearish bias to reach 139.90, while if the moving average remained firm that will make the price fluctuates again around the resistance level at 144.50.
Expected trading range is between 140.00 and 144.50
Expected trend: neutral
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