GBPJPY has experienced a sharp decline after peaking at the six-year high of 168.41 in early April. However, the pair has managed to find its feet and is currently trading sideways, while near-term risks seem to be tilted to the upside. The momentum indicators endorse a cautiously positive tone. The stochastic oscillator is sloping upwards after posting a bullish cross, while the RSI is trying to cross above its 50-neutral threshold. Should buying pressure persist, initial resistance could be encountered at the 161.00 psychological mark. Jumping above this region, the bulls could aim at the 161.87 barrier before the ... (full story)