GBPJPY is trading higher again today, recording its fourth consecutive green candle and preparing to test the June 24, 2015 high at 195.87. The market is digesting the BoJ meeting’s outcome, with the lack of hawkish rhetoric maintaining the underperformance of the ailing yen and increasing the pressure on the Japanese finance ministry to intervene. Momentum indicators have taken notice of the recent upside sentiment in GBPJPY. More specifically, the Average Directional Movement Index (ADX) edged above its 25-threshold, pointing to a tentatively bullish trend. Similarly, the RSI has climbed to a 2-month high, ... (full story)