The GBP/JPY reaches 7 year highs

The Pound continues to strengthen versus the Yen and it has reached highs not visited since September, 2008, just above the 195.00 level. The price stalls at the 195.00 zone, but the bullish momentum is still in place and a visit to the 196.00 level is possible. Due to the fact that the main trend is bullish, we could take advantage of the bearish pullbacks to take long entries, but we must be aware that the price may try to make a longer correction, because the pair is clearly overbought.