GBP/JPY clings to gains around 132.00

The offered bias around the Japanese safe haven is helping GBP/JPY to stay within the positive territory so far on Thursday.

GBP/JPY upside limited around 132.00

The cross is posting decent gains following a steady trade in the Sterling and a bearish note surrounding the Yen, although a breakout of session highs near 132.10 still remains elusive.

Absent significant releases in both calendars, the cross is poised to follow the broader risk appetite trends ahead in the session, while a resumption of the selling mood could open the door for a test of 2016 lows around 128.80.

GBP/JPY key levels

As the moment the cross is advancing 0.18% at 131.98 and a break above 136.40 (20-day sma) would expose 143.25 (high Jul.15) and finally 144.50 (50% Fibo of post-Brexit down move). On the other hand, the immediate support aligns at 130.00 (psychological level) and then 128.77 (2016 low Jul.6).