GBP JPY settles below the resistance 31/1/2013

The pair achieved a slight rising in yesterday’s trading to hit 144.15 to succeed in creating an inverted head and shoulders pattern as appears in the above chart.

Carefully note that breaching above the mentioned pattern makes the price renew the positivity to accomplish 146.15 followed by 147.65, while if the breach was failed the pair will turn back to the bearish bias to hit the moving average level at 141.60, thus we recommend staying aside until being certain from the true bias.

Expected trading range is between 141.60 and 146.15

Expected trend: neutral.