- An imminent Brexit deal provided a strong boost to the GBP/JPY on Thursday.
- GBP/JPY gained strong positive traction for the second consecutive session on Thursday.
- The underlying bullish sentiment undermined the safe-haven JPY
The GBP/JPY cross built on the previous day's strong positive move and continued scaling higher through the first half of the European trading action and rallied further beyond the 141.00 mark to hit near four-month tops in the last hour.
A combination of supporting factors assisted the cross to build on the overnight positive move and gain some strong follow-through traction for the second consecutive session on Thursday.
A subsequent buying above the previous monthly swing highs, around the 140.70 region, might have already set the stage for additional gains for the GBP/JPY cross.
The momentum seems strong enough to push the GBP/JPY cross further beyond the 141.00 mark, towards the 141.40 region. The bullish trajectory could get extended to September daily closing highs, around the 141.75-80 region en-route the 142.00 round-figure.
On the flip side, any pullback below the 141.00 round figure mark is a buying opportunity . This, in turn, should help limit the downside near the key 140.00 psychological breakpoint might now be seen as a buying opportunity amid hopes for an imminent Brexit deal.
