GBP JPY surpasses the triangle pattern 26/3/2013

The pair hit the price triangle resistance level at 144.67 yesterday to fail to breach above it which pushed the price to achieve clear negativity by breaking below the support level of this triangle, to notice that the price is stable below the broken support after reaching 141.80 which represents 50% Fibonacci as appears in the above chart.

Carefully note that the stability below the broken level which is supported by the moving average 55 will make us expect the return for achieving negative level during the near and medium period.

Expected trading range is between 143.30 and 141.00

Expected trend: bearish