GBPJPY rose in the short term and intraday levels, succeeding in breaching the ceiling of that positive technical pattern that formed previously in the short term, the Falling Wedge pattern, as shown in the attached chart, coinciding with trespassing the SMA50, doubling the positive pressures on the coming trading, especially with an influx of positive signals from relative power indicators.

Therefore we expect the pair to head higher in the coming trading, targeting the first resistance at 161.80.

Trend Bullish