GBP JPY negotiates the moving average 27/3/2013
Economies.com
2013-03-27 08:15AM UTC
The pair tried to decline yesterday to find 142.43 as an obstacle against it, and settle around the moving average 55 since morning, touching the broken support line as shown in the image.
The broken support line stability allows us to expect the negative bias again in the near and medium term, to reach 142.40 followed by 141.00 as a main target for the bearish expectations, while we need to be aware that any attempt to breach 143.800 will cancel the bearish overview.
Expected trading range is between 143.80 and 141.00
Expected trend for today: Bearish
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