GBP JPY moves away from the support 11/12/2012
Economies.com
2012-12-11 08:37AM UTC
The pair made several attempts recently to reach the bullish channel support around 131.40, but we noticed the stability above 131.80 to resume the effect of the bullish bias on the pair trading .
We continue in our previous expectation of stabilizing with bullish bias reaching to 132.80 and extend to reach 134.80
Stochastic is attempting to get rid of the intraday negative bias by settling above 50.
We noticed that Stochastic’s level settled between 50 and 80 to keep the bullish bias the dominant conditioned by the support level stability.
Expected trading range for today is between: 131.60 and 133.40
Expected trend for today: Bullish
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