The retracement of GBP/JPY currency pair might continue in the next days. The price may rise at Fibo 0.76 (164.10) and then at Fibo 0.61 (169.96). The bottom was already confirmed and this indicates that the pair will rise in the medium term.
According to the 8 hour chart, GBP/JPY currency pair is into a range between 160.00 and 161.70. If the price rises above 161.70, it may go up to Fibo 0.50 (164.63). The MACD on 8 hour chart confirms also its upside movement.
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