GBP/JPY back around 147.00 on BoE, Brexit

GBP/JPY is shedding more than three cents today, currently returning to the 147.00 neighbourhood after a failed attempt to retake the 148.00 mark.

GBP/JPY hurt by BoJ, BoE, Brexit          

The cross has been suffering increasing selling pressure since early trade, navigating levels last seen in April 2013 around the mid-146.00s.

Inaction from the BoJ at today’s meeting has sparked a wave of buying interest around the Japanese safe haven, relegating the cross to the 146.40 area. Later in the European session, the BoE matched estimates leaving unchanged the bank rate at 0.5% and the asset purchase facility at £375 billion, while argued that ‘Brexit’ could be the worst scenario for the UK economy.

GBP/JPY key levels

As the moment the cross is losing 2.32% at 147.11 and a break below 146.40 (low Jun.16) would aim for 140.35 (monthly low Apr.2013) and then 137.82 (monthly low Feb.2013). On the other hand, the next resistance aligns at 157.84 (high Jun.7) followed by 159.41 (100-day sma) and finally 159.78 (high May 31).