GBP/JPY unchanged, approaches 139.00

GBP/JPY is prolonging its correction lower from Monday’s tops above 141.00 the figure, currently hovering over the 139.00 area ahead of UK releases.

GBP/JPY supported at 138.50

After bottoming out in the mid-138.00s during overnight trade, the cross is now approaching the 139.00 handle amidst a generalized absence of a clear direction in the global markets.

Later in the day, UK’s jobs report is due. Prior surveys see the unemployment rate staying put at 5.0% in May while Claimant Count Change is expected to have ticked higher by 3.5K in June.

GBP/JPY key levels

As the moment the cross is down 0.02% at 139.12 and a break below 137.45 (20-day sma) would expose 136.19 (50% Fibo of post-Brexit down move) and then 128.77 (2016 low Jul.6). On the other hand, the initial hurdle lines up at 143.25 (high Jul.15) followed by 144.50 (50% Fibo of post-Brexit down move) and finally 149.43 (55-day sma).