GBP JPY is stable within the channel 17/1/2013

The pair remained declining in yesterday’s trading to reach 140.40 to approach from the main support of the supported bullish channel by the moving average as shown in the image.

The bullish trend’s control on the current trading is expected to return conditioned by the stability of 140.00 to accomplish 142.50 followed by 144.00

Stochastic gets rid of the negativity and achieves a positive level above 50 point to support the expected positivity.

Expected trading range is between 142.50 and 140.00

Expected trend: bullish if the support level remains intact.