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  • Guppy buyers are looking at making a run at the 150.00 handle, and a fresh four-month high.
  • Brexit concerns are easing off for now, and the GBP/JPY is set to gain further ground above the 200-day EMA.
  • There’s still potential for a downside reversal, as the Daily candles show the 50- and 21-day EMAs still trapped beneath the 200-day EMA, implying that a potential bull trend is still fresh.

GBP/JPY Chart, 1-Hour

Spot rate 148.98
Current week change 1.34%
Previous week high 149.71
Previous week low 146.32
   
Support 1 148.28 (50-hour EMA)
Support 2 147.45 (200-hour EMA)
Support 3 146.82 (200-day EMA)
   
Resistance 1 149.02 (previous day high)
Resistance 2 149.71 (four-month high)
Resistance 3 150.00 (major technical handle)