On GBPJPY chart we see that price has set a new high and broke psychological resistance level at 146.00. Worth noting is the strong growth impulse that points to strong advantage of the demand side.
At present price is heading towards previous high and resistance at the psychological level of 148.00. Breaking it will open the way to further growth. A drop below the support level of 146.00 may result in a larger correction. It is worth looking at chart with a lower interval.
On H1 we can see correction of recent increases. Currently downward momentum has slowed down and volatility and rising demand pressure are showing. Currently price is between support 146.10 and resistance 146.80. Breaking the aforementioned resistance will open the way for further growth.
