GBP/JPY has been in a choppy bullish mode since Oct 2016. This might not be a sustainable bullish trend, but price action has not signaled a shift to the bearish trend. $GBPJPY Daily Chart(click to enlarge)Choppy Bullish Trend:- The daily chart shows that GBP/JPY has been in something of a rising wedge since Oct. 2016. - This choppiness suggests that this is not a primary trend.- However, we have no indication that this trend is shifting.- BUT, price action will test that bullish scenario as it dips 148. - There is a rising trendline and the 200-day simple moving averages (SMA) .- There is also a common support around 147,- If price breaks below 147, it would clear these critical support levels and open a bearish outlook towards 140 and maybe lower.- However, if price closes above 148 in the next couple of weeks, it would suggest bulls in charge. A subsequent break above 151 would further confirm bullish confirmation. - Now, with the notion that this is not a primary trend, we should limit our bullish outlook to around 156, with maybe 158 as a maximum outlook.