GBP/JPY is getting closer to its strong resistance at 140.03. The general overbought conditions call for caution. Hourly supports are given by 138.09 (intraday low) and 136.40 (25/12/2012 low). • GBP/JPY has broken its long-term falling trendline that started in April 2010. This breakout calls for further long-term strength. The next key resistances are at 140.03 (08/04/2011 high) and 163.09 (07/08/2009). (full story)