The GBP/JPY continues around resistance

The Pound versus the Yen had a good bearish trend that took it to the 140.00 level where it started to retrace to the upside, as shown on the daily chart. Before the bullish pullback on the pair from the 140.00 level, we can see that the 200 day EMA, blue line, had been acting as a good support-resistance area. Actually, around the middle of August we can see a breakout and pullback pattern developing around the 200 day EMA from where the price continued dropping towards the 140.00 level. At the moment, the GBP/JPY has retraced to the 200 day EMA, where we can also find the 143.00 round number level contributing to making the area a good resistance zone. The GBP/JPY may possibly bounce back down from the 143.00 zone and try to visit the 140.00 level again. But if the pair breaks above the 143.00 level, then it may find some resistance at the 144, 145 or the area between the 146.83 and the 147.80 levels.