The GBP/JPY has formed a breakout point above 155.45 and we should see the price moving up.
In the midst of the price action we have the UK cash rate decision today. Consensus is that the hike will happen by 0.25 bp. The important part is the BOE Meeting Minutes report which should cause the additional volatility. The first target is 156.04 and the final target is 156.40. Bulls are leading the price higher.
The Analysis has been done with the Black Widow system.