GBP JPY achieves the full targets 4/4/2013

The pair closed its bearish trading since morning after achieving 140.30 noticing that the price is affected by the japaneas data to return to visit 142.15 as appears in the enclosed chart, therefore we expect the continuation of the correction process to settle within the bearish channel by reaching 143.10

We notice that the moving average around 61.8% Fibonacci which acts as an obstacle against rising sharply, therefore we recommend staying neutral until ending the current wave to detect the true trend during the near period.

Expected trading range is between 143.00 and 141.00

Expected trend: neutral