GBP JPY remains stable positively 28/10/2013

The current support level around 156.75 proved its strength by the stability of the trading above it to support the continuation of the bullish bias domination on the trading in the upcoming period, therefore we continue in our bullish expectation to achieve 158.80 as an initial target where breaching above it supports reaching to 160.20 as a main target.

Stochastic remains trading negatively below 50 level which supports the sideways range for the near trading until gaining the required positive momentum to achieve the previously suggested targets.

Expected trading range is between 157.10 and 158.80

Expected trend for today: bullish