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  • GBP/JPY gained about 60 pips as Peter Navarro “one of President Donald Trump’s top trade advisors, said the market was overreacting to fears the administration would restrict foreign investment as part of its trade actions against China and other countries,” according to CNBC.
  • Safe-have Yen and gold have been dumped on the news.  
  • GBP/JPY is trading above its 50, 100 and 200-period simple moving average on the 15-minute chart suggesting a mild bullish bias.  

GBP/JPY 15-minute chart

Spot rate:                  145.86
Relative change:       0.07%    
High:                         146.19
Low:                          144.69

Trend:                        Bullish

Resistance 1: 146.00 figure
Resistance 2: 146.65 last week’s high
Resistance 3: 147.15 supply level
Resistance 4: 148.10 June’s high

Support 1: 145.58 last Friday’s low
Support 2: 145.20 Monday intraday swing low
Support 3: 144.59 June 21 low
Support 4: 143.20  current 2018 low