GBP/JPY continues to push higher, having printed a fresh high at 158.22 last Friday. Benjamin Wong, Strategist at DBS Bank, expects the pair to lurch even higher.

Strong momentum being augmented

“A quick look at the daily Ichimoku charts shows bullish momentum remains in a feverish pitch, and there is no affirmation that the 158.22 highs is a verified absolute top. Hence, we remain open to the possibility of the cross assailing higher levels before it ends terminally the bull run that currently came off 148.47, the July 2021 lows.”

“On the monthly charts, 162.13 is a keenly watched 200-month moving average as well.”