GBP/JPY Price Analysis: Bulls need a break of 153.80

• GBP/JPY bulls attempting to beak higher and ride the dynamic support. 
• Bears will seek a break o the 152.50s that open risk to 151.00.

The price is attempting to break the resistance near 153.30 and then 153.80 which guards the space to the next layer of resistance near 154.70. A break there opens risk to a full-on break out to the top side.

GBP/JPY daily charts

However, for the time being, it should be noted that any failures to break these key resistance in the forthcoming days are going to put pressure on the downside. This will expose dynamic trendline support as follows:

A break of the 152.50s runs the risk of a run to the 151 figures last defence for the 148.00 areas.