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  • The GBP/JPY kicked higher yesterday, taking a run at the 148.00 technical level as weekend Brexit concerns that the UK’s Prime Minister Theresa May might call a snap election were talked down by the UK’s Brexit minister, easing tensions and allowing the Sterling to begin taking a leg back up after last Friday’s sharp decline from just beneath the 150.00 handle.
  • The Bank of Japan (BoJ) is double-dipping on appearances for the Tuesday market session, with the Japanese central bank’s latest Monetary Policy Meeting Minutes dropping late Monday at 23:50 GMT, but traders will be looking towards Tuesday’s showing from the BoJ’s head, Hirohiku Kuroda, will be tabling a press conference beginning at 05:35 GMT.
  • The Guppy has managed to build a support base just above the 200-day EMA, and bidders will be looking to stage a firmer run at the 150.00 handle after early September’s swing low into 142.60  sees a higher low for the pair on the daily candles.

GBP/JPY Chart, 1-Hour

Spot rate 147.95
Week’s change 0.64%
Current week high 148.30
Current week low 146.94
   
Support 1 147.18 (200-hour EMA)
Support 2 146.79 (200-day EMA)
Support  3 145.69 (late August swing high)
   
Resistance 1 149.31(July peak)
Resistance 2 149.71 (previous week high)
Resistance 3 150.00 (major technical level)