GBP/JPY bid around 133.50, risk-on prevails

GBP/JPY has managed to leave behind Friday’s trough near 132.00 the figure and it has now retaken the 133.00 handle and above.

GBP/JPY bolstered by risk appetite

The cross is trading on a firm note at the beginning of the week following the better sentiment around the riskier assets and increasing selling bias surrounding the safe haven JPY.

In the meantime, upbeat mood in response to positive results from July’s US Non-farm Payrolls continue to lend support to the risk appetite trends on Monday, in turn pushing the cross to the 133.70 area, or 2-day highs.

GBP/JPY key levels

As the moment the cross is advancing 0.28% at 133.48 and a breakout of 137.15 (20-day sma) would open the door to 143.25 (high Jul.15) and then 144.50 (50% Fibo of post-Brexit down move). On the other hand, the next support aligns at 132.18 (low Aug.5) followed by 130.00 (psychological level) and then 128.77 (2016 low Jul.6).