GBP/JPY Weekly Technical Report 23-27/12/2013

The pair continues to trade sideways around 170.00 areas while Stochastic offers positive signals supporting the pair to the upside to resume the general uptrend. We will hold onto the positive outlook for the pair over intraday and short-term basis that require a breach of 171.40 for confirmation opening way toward 175.00 then 176.00. Stability below 170.00 then 169.40 will turn the intraday outlook to the downside.