The main obstacle in this direction was and so far, remains Brexit. But judging by the latest statements of the Prime Minister of Great Britain, the Government finally decided on its choice and this is the "soft" Brexit. This option bears minimum damage to the economy of Britain. The actual opening of the pound with a gap up on Monday shows where the British currency will move if this vector of Brexit's solution is implemented. Yes, loud departure of Boris Johnson confused pound bulls (previously retired and left the British Minister for Brexit David Davis), but not for long. Progress in the negotiation process will inevitably push the British currency up.
In this regard, buying a pair of GBPJPY we see a very promising trading idea. The pair, if not today, then tomorrow will reach 148. And although this is a very important level, we believe that it will be taken, and the pair will return to its medium-term range 148-152. Accordingly, the next target will be the upper limit of the range 152. It is also possible that the growth will continue up to 154. All these variants of the development of events are possible even without a serious breakthrough in the negotiation process. But if the EU and Britain will agree, then we can no longer speak of fluctuations within the range, but the formation of a full-fledged upward trend in the pair.