GBP/JPY is expected to trade with a bullish bias above 150.85. Although the pair posted a pullback, a support base at 150.85 has formed and has allowed for a temporary stabilization. The relative strength index is mixed.
Therefore, as long as 150.85 is not broken, we are cautious with up targets at 152.10 and 152.60 in extension.
Alternatively, if the price moves in the direction opposite to the forecast, a short position is recommended below 150.85 with the target at 150.45
Strategy: BUY, stop …