Trading the GBP/JPY pair can be challenging due to the uncertainty surrounding Brexit. While recent news has been positive, the Japanese yen has weakened as a result. However, it is likely that Brexit issues will resurface, potentially causing major disruptions.
On the chart, the ¥140 level is a key target if the pair continues to rise. This level has historically seen significant selling pressure. On the downside, the ¥135 level is a strong support level, but reaching it may require negative Brexit news to emerge.
Overall, trading the GBP/JPY pair requires careful consideration of Brexit developments. Stay informed by checking out the economic calendar for important events.
This article was originally published on FX Empire.