Nice bounce off the lows from the end of January this year taking out the recent high at 151.50 sees GBPJPY itching to test 156, the first of the Fibo retracement levels.
If you are long, look to take profit at 155.90, otherwise look to build a long position on any pullback to 151.50. There just maybe one more pullback before that run up to 156.00. Medium term it looks good for 165.00.
