The moving average supports GBP JPY positivity 9/7/2013

By the above chart we notice the stability of the moving average level around the bullish channel’s support level, confirming the stability of the trading positively until this moment, thus we continue in our previous expectation to renew the positivity to record the first target around 151.80 and then 153.20 if the support level settled around 149.80 for today.

Stochastic remains stable negatively, attempting to create a bullish wave that supports the expected bullish bias to record the previously suggested targets.

 Expected trading range is between 150.30 and 153.20

Expected trend for today: Bullish