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GBP/JPY continues to rally. It is closing in on our long-term target at 163.39. We would not be surprised to see 163.39 surpassed slightly, but we expect the on-going rally to be a cap near the long-term target at 163.39 for a larger corrective consolidation towards 156.85 and possibly even closer to 151.81. Now, the main focus should remain towards the upside for a rally to 163.39. However, the best of the rally is behind us now.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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