GBPJPY currency continues to rise inside the minor impulse wave 5, which started earlier from the support zone located between the key support level 159.500 (which stopped the previous downward correction in March), lower daily Bollinger Band and the 50% Fibonacci retracement of the sharp upward impulse from March. Given the strong daily uptrend and the continued bullish sterling sentiment seen across the FX markets today – GBPJPY currency pair can be expected to rise further toward the next
resistance level 166.000.