GBP/JPY gained traction for the third consecutive session on Wednesday. Bulls are likely to wait for a sustained move beyond the 139.50 region. The GBP/JPY cross edged higher for the third consecutive session on Wednesday and was last seen trading just below mid-139.00s – the highest level since June 8. The mentioned region coincides with the top boundary of an ascending trend-channel extending from late June and should act as a key pivotal point for short-term traders. Meanwhile, RSI (14) on the daily is flashing slightly overbought conditions and warrant some caution for bullish traders. This, in turn, makes it prudent to wait for some strong follow-through buying before positioning for any further near-term appreciating move. A convincing breakthrough will now set the stage for a move back towards June monthly swing highs, around the 139.75 region, before bulls eventually aim to lift the cross beyond the key 140.00 psychological mark. On the flip side, any meaningful pullback below the 139.00 mark might now be seen as a buying opportunity and remain limited near the 138.75 region. That said, some follow-through selling might accelerate the slide further towards the 138.10-138.00 intermediate support en-route monthly lows, around the 137.75 region. GBP/JPY daily 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 S&P 500 Futures: Battle lines well-defined ahead of US data – Confluence Detector FX Street 2 years GBP/JPY gained traction for the third consecutive session on Wednesday. Bulls are likely to wait for a sustained move beyond the 139.50 region. The GBP/JPY cross edged higher for the third consecutive session on Wednesday and was last seen trading just below mid-139.00s – the highest level since June 8. The mentioned region coincides with the top boundary of an ascending trend-channel extending from late June and should act as a key pivotal point for short-term traders. Meanwhile, RSI (14) on the daily is flashing slightly overbought conditions and warrant some caution for bullish traders. This, in turn, makes it… 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.