GBPJPY is heading upwards again after the selling interest in the previous week and the bounce off the 198.90 support level. The market is ready to test the 16-year high of 201.64, while even higher the 261.8% Fibonacci extension level of the down leg from 188.65 to 178.80 at 204.70 may halt bullish movements. However, traders need to be cautious at the next psychological levels as well, as at 202.00 and 203.00. The technical oscillators are confirming the upside momentum of the market. The RSI is rising above the neutral threshold of 50, while the stochastic oscillator posted a bullish crossover within its %K and %D ... (full story)