GBP JPY settles around the moving average 19/2/2013

The pair hit 146.00 level, to bounce down and continue the expected correctional bias, and witness settling around the moving average at 144.80

To continue with the correctional bias, the price should break the moving average and reach 143.60 followed by 141.20, therefore, we recommend monitoring the price when surpassing the moving average to hit the waited target.

Expected trading range between 145.60 and 143.60

Expected general trend: bearish