The GBPJPY pair lost the positive momentum after stochastic attempt to exit the overbought areas, to rebound bearishly from 161.00 level and settles near 159.90, while the current rebound is considered as a threat to the continuation of the correctional bullish track due to the stability of the additional support at 158.70.
Therefore, we will keep waiting to gain the positive momentum soon to manage to form strong positive waves and surpass 161.00 level, waiting to achieve the next target at 162.20.