GBP/JPY Technical Analysis: On bids around 146.40/50 resistance area, 147.00 in focus

• GBP/JPY trades near 146.40 during early Wednesday.
• The quote recently reversed from 143.80 and is now struggling around 146.40/50 resistance-area comprising three-week-old descending trend-line and highs marked since March 26.
• Should prices manage to successfully cross 146.50 barrier, March 18 low near 147.00 round-figure could gain immediate attention.
• However, multiple resistances around 148.50 could challenge buyers past-147.00.
• Given the bulls’ ability to conquer 148.50, March month highs near 148.90 and 150.00 could become intermediate halts during the pair’s rise to 61.8% Fibonacci expansion of mid-January to March-end moves, at 151.00.
• On the downside, 145.50 and 200-day simple moving average (SMA) figure of 144.70 seem nearby supports to watch.
• In a case where sellers dominate under 144.70, 100-day SMA level of 143.55 could appear on their radars to target.

GBP/JPY daily chart