GBP JPY is below the resistance 10/4/2013

The pair achieved 150.50 in yesterday’s trading as a first level to gather the previously expected gains, to notice the price return to be leaning below the resistance 152.20, therefore the trading remains within tight and sideways range to be limited between the resistance level and 150.40 in the near period.

The downside track scenario requires the stability of the resistance level to achieve 150.40 followed by 148.60, while breaching above the resistance level will push the price to achieve level above 153.20

Expected trading range is between 152.20 and 149.30

Expected trend: bearish if the resistance level remains intact