The GBPJPY paved the way to move higher

The GBPJPY currency pair on the Daily Chart has been in an uptrend since 12 August 2019 when it registered the low price at 126.554. Subsequently, the price displayed a series of higher tops and higher bottoms. On 17 October 2019, the GBPJPY currency pair recorded the high price of 141.518. When applying Oscillator Analysis to the price chart, one can see that price is trading above the SMA 60 period Moving Average line, a fact which confirms the GBPJPY currency pair's upward direction. Furthermore, the MACD (Moving Average/Convergence Divergence) Oscillator is recording values above the zero line which hints to the bullish bias of the financial instrument. Additionally, the RSI (Relative Strength Index) Oscillator registers values above the fifty line which indicates positive sentiment. All three technical indicators are in agreement with regards to the upward bias of the financial instrument. Three price targets may be calculated upon applying the Fibonacci tool to the price chart. The first price target is estimated at 139.051 (161.8%). The second price target is seen at 144.377 (261.8%). The third price target is projected at 152.995 (423.6%). The first target was reached successfully. The GBPJPY currency pair is currently trading above the uptrend line. Of course, supply and demand as well as the crowd sentiment will determine the course of GBPJPY currency pair.