GBP JPY is effected by temporary negativity 27/8/2013

The pair remains stable below the resistance level 154.25, to notice that the price is affected by temporary negativity which allows it to form bearish wave to approach from the initial support level around 152.80, therefore we recommend the neutrality until finishing the bearish wave to achieve the waited positive target level around 155.40

Stochastic attempts to gain the required positive momentum by settling below 80 level which supports the price affection by the temporary negativity until building bullish wave again.

Expected trading range is between 152.80 and 154.20

Expected trend for today: neutral