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GBP/JPY stabilising above 138.00, looking for more as risk appetite steps higher

  • Early Monday sees risk appetite on the upswing as the Yen takes a step back across the board, albeit mildly.
  • A lack of notable data this week for the UK sees Brexit front and center for traders' attention.

GBP/JPY is trading into 138.20 in early Monday action, continuing to test into last week's highs after the Sterling spent a couple of days recovering from a Yen-fueled plunge that saw the Guppy plummet into the 131.50 zone as traders flocked towards the Japanese Yen on renewed risk sentiment, with a notable lack of market liquidity exacerbating the move. Overall markets have recovered from the risk-off drop, though the GBP/JPY pairing remains down for the past week as Pound bulls struggle to regain the 140.00 level.

Monday is a nice and quiet showing on the economic calendar for both the GBP and the JPY, with little of note worth mentioning, and the next high-impact reading for the UK won't be until Friday's monthly GDP figure, leaving Sterling bidders free to try and surf the inevitable wave of Brexit headlines that are sure to continue as the EU withdrawal quagmire continues to pull down all participants.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 138.18
    Today Daily change: 2.0 pips
    Today Daily change %: 0.0145%
    Today Daily Open: 138.16
Trends:
    Previous Daily SMA20: 140.71
    Previous Daily SMA50: 143.63
    Previous Daily SMA100: 144.82
    Previous Daily SMA200: 146.09
Levels:
    Previous Daily High: 138.31
    Previous Daily Low: 135.8
    Previous Weekly High: 140.89
    Previous Weekly Low: 131.79
    Previous Monthly High: 145.52
    Previous Monthly Low: 138.86
    Previous Daily Fibonacci 38.2%: 137.35
    Previous Daily Fibonacci 61.8%: 136.76
    Previous Daily Pivot Point S1: 136.53
    Previous Daily Pivot Point S2: 134.91
    Previous Daily Pivot Point S3: 134.02
    Previous Daily Pivot Point R1: 139.04
    Previous Daily Pivot Point R2: 139.93
    Previous Daily Pivot Point R3: 141.55

 

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