GBP JPY surpasses the bearish channel 4/3/2013

By the above chart we notice the stability of the pair out of the bearish channel’s range to cancel its correctional bias attempting to achieve positive bias again, therefore, we expect achieving some positivity in the near period noting that there is an obstacle against the price rising around 141.10 which represents 23.6% Fibonacci. 

We recommend you to stay aside until breaching above 141.10 to confirm the bullish bias, and for the risky traders they can be positive with being aware that a close below 139.70 will make the price returns to repeat the correction process to reach 138.80.

Expected trading range is between 140.00 and 142.30

Expected trend: neutral.