GBPJPY inside the bearish channel 31/5/2013

The pair settled inside the bearish channel with the stability of the resistance line, supported by the moving average 55 at 153.80, to notice forming negative wave since morning and approach from the initial support line at 152.10

Therefore, we will consider the bearish bias on the near term, but we need to witness clear break for the initial support line to record the second target around 150.90 followed by 149.50, stochastic supports the bearish overview below 50 level, to support the bearish bias.

Expected trading range is between: 153.60 and 150.90

Expected trend for today: Bearish