GBPJPY recently broke the resistance level 139.700 (top of the previous intermediate correction (A) from June) standing near with the 61.8% Fibonacci correction of the previous downward impulse from December. The breakout of the resistance level 139.700 accelerated the active impulse waves 5 and (C). Given the strongly bullish sterling sentiment seen across the FX markets today – GBPJPY is likely to rise further toward the next strong resistance level 144.900 (top of the previous ABC correction (2) from February).