GBP JPY remains inside the bearish channel 4/6/2013
Economies.com
2013-06-04 08:12AM UTC
The pair provides bearish bias in yesterday’s trading achieving 151.85, noticing the price stability within the bearish channel if the resistance level 153.30 settled for today.
We remain in our bearish trend expectation to achieve 150.90 as a first target for the bearish trading followed by 149.50 by the stability of the trading below the moving average 55 which supports the bearish channel as appears in the above chart.
We should mention that breaching the moving average will push the price to achieve positive level reaches 154.80
Expected trading range is between 153.30 and 150.90
Expected trend for today: bearish
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