GBP/JPY turns positive above 135.00

A bout of buying pressure around the British pound has prompted GBP/JPY to advance once again above the 135.00 handle.

GBP/JPY in 3-week lows

The cross has dropped to multi-week lows around 134.40 in early trade, managing to regain 135.00 the figure and thus revert the initial negative performance.

The solid demand for the Japanese safe haven continues to cap occasional bullish attempts in the cross, leaving all the attention to the stimulus package in Japan as the exclusive driver for the price action.

GBP/JPY key levels

As the moment the cross is advancing 0.11% at 135.13 and a breakout of 143.25 (high Jul.15) would aim for 144.50 (50% Fibo of post-Brexit down move) and finally 145.90 (55-day sma). On the other hand, the immediate support aligns at 134.84 (low Jul.29) ahead of 132.92 (low Jul.12) and then 128.77 (2016 low Jul.6).