GBP/JPY - GBP/JPY Jumped To 143.20 - 07/15/2016 (GMT)

The GBP/JPY pair surged a three-week high and rose nearly 9% since Monday. The price rebound to the 136.50 psychological level and started an upward move until the 143.20 price level. The next immediate resistance level is at 145.40 and the price is currently moving near the 141.50 price level. A continuation of the upward move is expected to the mentioned immediate resistance level and a break above that level will open the doors for the significant resistance zone at 158.00-160.00. On the other side, if the price fails to overcome the 145.40 barrier a possible descending move will start again and the pair’s recent bullishness might be about to end. The MACD oscillator had a bullish cross with its trigger line but is still moving in a negative territory. The RSI indicator has just entered into the bullish area, above 50.