GBP JPY is waiting the bullish momentum 19/11/2013

The pair settles in positive range above 160.00 to notice that the price is providing sideways bias due to the stability of Stochastic in the overbought level to be unable to provide the required positive momentum, thus we expect some sideways trading for today to limit the trading between 160.00 and 161.80 until gaining the required momentum to achieve the initial target around 162.50, which breaching it will push the price to achieve new levels that begin from 163.30 reaching to 165.00

Expected trading range is between 160.00 and 161.80

Expected trend for today: bullish if the initial support level remains intact.