GBP JPY is stuck by the top level 10/9/2013

The pair achieved 156.60 yesterday to settle around the previous top level waiting for gaining new positive momentum to breach the previous level to reach 158.20 which forms new positive target in the upcoming period.

To achieve the previously suggested target we need a daily close above 156.60 to surpass the current dominant sideways range, opening the way to resume the positivity, and Stochastic returns to the attempt to breach 80 level, supporting the bullish expectation in the upcoming period.

Expected trading range is between 155.50 and 157.70

Expected trend: bullish