GBP JPY forced to decline 6/9/2013

The pair remains affected by the bullish trading to reach 156.45 approaching from the main target around 157.00, to notice that the price is forming bearish wave affected by Stochastic attempts to get rid of the overbought level, attempting to gain some positive momentum in the upcoming period to achieve the main target.

In general, the bullish bias remains controlling the trading if 154.70 settled as an initial support level to expect the price fluctuation in the near period until achieving the main mentioned target.

Expected trading range is between 154.70 and 157.00

Expected trend for today: bullish