GBPJPY continues in negative bias 22/2/2013

The pair approached the waited target at 141.10 yesterday, touching 141.30 level, and hitting the first retracement level -23.6% Fibonacci- of the dominant correctional bias.

We expect fluctuating between 144.00 –moving average 55- and the initial support 141.10 for today, while we should remind you that the general trend is bullish as long as 136.75 remained intact, while the current negative effect is a correctional process of the price rise.

Expected trading range is between 144.00 and 141.10

Expected general trend for today: fluctuated