GBP/JPY surged past 194.00 mark , next hurdle now lies at 195.00

GBP/JPY registered gains on Monday attributing to a weaker Yen and a higher than expected UK PMI data. The recent Flash UK PMI survey suggested that private sector output growth climbed to a six-month high spurred on by a rebound in the service sector. As the private sector picked up momentum, it provides some relief to UK's finance minister Rachel Reeves before she presents the annual budget.
GBP/JPY sticks to its positive bias on Tuesday testing the psychological resistance of 195.00. At the time of writing, the pair trades at 194.48 sustaining well above the 200 day Simple Moving Average. Intraday momentum largely remains bullish preparing the buyers to test the key resistance of 195.00. Relative Strength Index indicates there is more room for the upside.
On the flip side, if the selling pressure is too strong, the prices may fall back towards 194.20 and 193.00 mark. 

Technical Structure: Strong bullish candle on Daily, Above 20 SMA on Daily, Consolidation on 4H & 1H.

Primary Trend: Uptrend

Intraday Trend/ Intraday Strategy: Bullish/ Buy on Support, Buy on Breakout

Major Support: 193.00, 192.25, 190.80

Major Resistance: 195.00, 196.60, 197.45