- 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) |
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