The risk of a hard Brexit keeps GBP/JPY under pressure, but support at 144.90 should continue to protect the downside for a break above minor resistance at 145.15 and more importantly above resistance at 146.05 that confirms more upside pressure towards 148.50 and ideally closer to 151.50.
Only a clear break below 144.90 will shift the bias to the downside for a re-test of 143.79 and possibly even closer to 141.00.
R3: 146.50
R2 146.00
R1: 145.42
Pivot: 145.15
S1: 144.90
S2: 144.62
S3: 144.15
Trading recommendation:
We are long GBP from 146.51 with our stop placed at 144.80
