Quoted from forexlive
GBPJPY is taking off with other JPY pairs
Technically, the pair surged above it’s 100 bar MA on the 4-hour chart at 142.79. Back at the beginning of the month
, that MA helped to stall the corrective rally.
The price has also moved above the 50% of the move down from the May 2017 high at 143.38.
Forex technical analysis: GBPJPY targets June’s high
Looking at the 5-minute chart below, the last hour has seen an acceleration of the move higher (above the topside channel trend line).
Even then it may just turn the bias more sideways, but it is a potential clue that there could be more of a battle between buyers and sellers.