GBP JPY remains sideways 17/10/2013

The sideways bias effect continues on the pair’s trading around 157.50, In need to the required positive momentum, which supports achieving 158.80 as an initial positive target, we still waiting for the bullish momentum if 156.75 settled as a support level against the bullish bias.

Carefully note that breaching above the initial target level will open the way towards visiting 160.00, which moves the price to a new positive stage that allows it to record new top level in the current period.

Expected trading range is between 156.80 and 158.80

Expected trend for today: bullish