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GBP/JPY relentless and takes 180 with ease

FXStreet (Barcelona) - GBP/JPY is trading at 180.45, up 1.20% on the day, having posted a daily high at 180.56 and low at 178.10.

Markets are pushing the barriers, and perhaps excited to finally have some action happening as traders’ dust of their tin hats and prepare for further volatility to get amongst of. GBP/JPY has just taken on the 108 handle and is proving relentless and a best performer across the sterling crosses on the back of a consensus for a No result from the Scottish vote. We have see two of the 32 composites come in as a No so far from Clackmannanshire and Orkney
but we still have 30 to go and these are just 2 constituencies are just a drop in the ocean while we await the showdown that will likely come in the form from the likes of Glasgow with many socially deprived council areas that may constitute for a yes vote overall.

GBP/JPY levels

With spot trading at 180.56, we can see next major resistance ahead at 181.20 (Daily Classic R3) and 181.76 (Weekly Classic R3). Support below can be found at 179.79 (Daily Classic R2), 178.99 (Daily Classic R1), 178.38, 178.23 and 178.22 (Weekly Classic R2).

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Shetland's council just posted its results, with No collecting 9,951 votes (63.7%) vs Yes 5,669 (36.3%). This is not a surprise for the market, with Shetland perceived as a 'No' strong-hold.
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