GBP/JPY popping into 148.50 as sentiment improves somewhat

• The Guppy is sliding sideways as wobbly risk sentiment mixes poorly with a weak-kneed Sterling.
• Brexit headlines continue to rule the GBP, while Japanese late-week data managed a pop, bumping session confidence.

The GBP/JPY is seeing some play in Friday's early Asia session, popping into familiar highs near the 148.50 zone.

The Guppy has been trading roughly sideways for the better part of two weeks after clearing the 149.00 key level in September, and the pair has been unable to gain further traction into the 150.00 major handle.

Brexit concerns continue to hobble the GBP's efforts to stabilize in broader markets, and with broader market concerns continuing to remain on the high side, the Yen is remaining a popular safe-haven choice for twitchy investors.

Japan's household spending data clocked in at 2.8%, far above the -0.1% forecast and clearing the 0.1% previous figure, helping to stabilize investor confidence in early Friday action, but markets remain tight ahead of the US NFP reading to cap off the week which has seen constrained market volumes with China dark for a week-long holiday.

GBP/JPY levels to watch

The current consolidation range from 147.00 to just beneath 150.00 sees the Guppy constrained around the 200-day EMA, suggesting the pair has lost long-term trend momentum, with the current peak sitting at 149.70 and the floor priced in near the 50-day EMA at 146.20.