Traders are looking for vehicles beyond the euro to buy amid reflationary expectations but fears the eur trend is lsoing steam. GBP/JPY seems to be that vehicle today as firm US interest rates support the USD/JPY leg of the cross and upbeat UK housing news supports the GBP/USD leg. GBP/JPY has overcome resistance in the 157.50/60 region and now trades at 157.75. 158.85 is the next upside target of note for the cross.