The last time I discussed GBPJPY was on November 29th. At the time, the pair was testing the top of a horizontal range that hinted at another leg higher. Here’s what I wrote: Although the intermediate trend here is still pointed lower, the pair has been carving a short-term uptrend since August. This leads me to believe that this latest consolidation via the 250 pip range could trigger another leg higher. How much higher? One resistance level I would keep a close eye on is 143.80. Notice how this area served as support for the pair in March and April. Above that, we have a less apparent key resistance level at 147.00. (full story)