GBP JPY touches the main target 29/11/2013

The bullish bias effect continued on the pair, to notice hitting the main target near 167.90, which forms the upside channel’s resistance line as appears on the image, while the next scenario depends on the main resistance stability which supports forming sideways bias to limit the trading between 167.90 and 166.20

Note that the price attempt to breach the resistance level will open the way for more positive levels starting from 169.10

Expected trading range is between: 165.10 and 167.90

Expected trend for today: Sideways, as long as the resistance line remained intact