The GBP/JPY pair is stuck in zones between 156.70 and the bullish channel's resistance at 158.05, and we're expecting the latter to be breached in order to confirm the continuation of the bullish trend. In general, the Moving Average 50 is keeping the potential uptrend valid so far. Expected targets begin at 159.00 and extend toward 161.75, and confirming them requires the price to stabilize above 156.70.
**Trading range expected this week is between the main support at 156.00 and the main resistance 161.00
**Short-term trend is to the upside, targeting 163.00 if 147.65 remains intact