GBP JPY in sideways range 11/2/2013

The pair continues the sideways trading recently to be limited between the channel support at 145.25 and 148.00 to keep the bullish bias is the dominant until this moment conditioned by the stability of the retesting level of the inverted head and shoulders pattern at 144.20

Carefully note that the continuation in the positive bias makes us expect achieving 148.80 in the near period and Stochastic stability above 50 is supporting us.

Expected trading range is between 144.20 and 148.00

Expected trend: bullish