GBP/JPY Short Term Buy Setup

FX:GBPJPY   英鎊 / 日圓
The pair witnessed a deep pullback during its last trading week but managed to hold above the rising trend line support and bounced back sharply. Going ahead, prices are likely to extend further gains towards 156/157 in coming weeks ahead of turning lower.
In my previous update I projected that the pair is going to rally upside towards 156 after a small pullback towards 152.50 but the correction was deep and it came down to 150.35 before bouncing back sharply. I will stick to my projected direction and targets as was projected in my earlier posts as structurally nothing has changed.
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