GBP/JPY Technical Analysis: Struggle to sustain recent strength highlights 146.00-145.90 for sellers

• GBP/JPY trades around 146.55 during initial Asian sessions on Wednesday.
• Yesterday, the pair crossed a yearlong resistance-line joining February 2018 high to November but failed to close beyond the same upside barrier.
• The pair has been trading well beneath the 146.85 resistance-line since morning, which in turn highlights the importance of 146.00 – 145.90 horizontal support area for the sellers.
• Should the pair slips under 145.90, Tuesday’s low around 145.35 may offer intermediate halt ahead of dragging it to the 200-day simple moving average (SMA) level of 144.65.
• Meanwhile, an upside clearance of 146.85 trend-line can’t be considered as a strong signal for the pair’s rise as another resistance-line connecting high of April and November 2018, together with 61.8% Fibonacci Retracement of February 2018 to January 2019 downturn, at 147.35 can challenge buyers.
• Given the bulls ability to cross 147.35, 148.45, 149.30 and 150.00 can come forward as favorites.

GBP/JPY daily chart