GBP JPY approaches from the support 16/1/2013
Economies.com
2013-01-16 07:08AM UTC
The pair continued the decline in correctional bias reaching to 141.45 since the morning trading.
We remain in our previous expectation for continuing the bearishness to reach the bullish channel support level at 139.90 which is supported by the moving average as shown in the enclosed chart.
We must mention that breaking the support level makes the price keep moving to the downside to accomplish a new negative level reaches 138.10 and extends to reach 136.10.
Expected trading range is between 140.00 and 142.80
Expected trend: bearish
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