The British-Yen is poised to continue its bullish run. Currently the pair is stifled with major resistance at the 150.000 level.
Over the week, the pair has danced around trying to break the level. However, with numerous rejections, the pair has begun consolidating in an upward triangle. The pair is set to break out with targets of 152.500 if proven bullish and 147.000 if proven bearish.
The Japanese Yen has been oversold against the US Dollar in recent weeks. On the other hand, the overall trend of GBPJPY has been quite steep and may see a major correction coming soon before eyeing higher targets.