GBP/JPY prolonged its recent bullish trend and jumped to the highest level since late February. The momentum marks a bullish breakthrough a two-month-old upward sloping trend channel. Slightly overbought RSI on hourly/daily charts warrants caution before placing fresh bullish bets. The GBP/JPY cross surged past the key 140.00 psychological mark and shot to the highest level since late February during the mid-European session on Thursday. The mentioned level represented the top boundary of an ascending trend-channel extending from late June. A move beyond marks a fresh breakout and might have already set the stage for an extension of the near-term bullish trend. Meanwhile, RSI (14) on hourly/daily charts is pointing to slightly overbought conditions and warrant some caution for bullish traders. That said, the cross now seems poised to aim towards reclaiming the 141.00 round-figure mark. On the flip side, any meaningful pullback might now be seen as a buying opportunity. This, in turn, should help limit the downside near the previous strong horizontal resistance breakpoint, now turned support near the 139.20-15 area. Failure to defend the mentioned resistance-turned-support might prompt some technical selling and drag the cross back towards sub-138.00 levels, important horizontal support near the 137.80 region. GBP/JPY 4-hourly chart Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY moves above 126.00 on improved risk appetite FX Street 2 years GBP/JPY prolonged its recent bullish trend and jumped to the highest level since late February. The momentum marks a bullish breakthrough a two-month-old upward sloping trend channel. Slightly overbought RSI on hourly/daily charts warrants caution before placing fresh bullish bets. The GBP/JPY cross surged past the key 140.00 psychological mark and shot to the highest level since late February during the mid-European session on Thursday. The mentioned level represented the top boundary of an ascending trend-channel extending from late June. A move beyond marks a fresh breakout and might have already set the stage for an extension of the near-term… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.