- Sterling is struggling to develop momentum against the softening Yen as Brexit headlines shake out bulls.
- 5 UK ministers have resigned from their positions within the Brexit cabinet in protest of PM May’s latest proposal.
- Monday’s action produced the GBP/JPY’s telltale whipping, but ended flat.
GBP/JPY chart, 15-Minute
| Spot rate: | 147.14 |
| Relative change: | 0.19% |
| High: | 147.17 |
| Low: | 146.78 |
| Trend: | Bullish to flat |
| Support 1: | 146.02 (key major barrier; previous day low) |
| Support 2: | 145.17 (previous week low) |
| Support 3: | 143.76 (one month low) |
| Resistance 1: | 147.60 (previous day high) |
| Resistance 2: | 147.80 (100.0% Fibo expansion level) |
| Resistance 3: | 147.98 (one month high) |
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