GBP/JPY looking for 149.50 to kick off the new week
- GBP lifting to kick off the new week, but Easter holidays are constraining market volumes.
- Japan data taking the wind out of the Yen's sails, giving the GBP/JPY a boost.
The Sterling is lifting to fresh session highs against the Yen, touching into the 149.40 level, but the potential for a quick correction remains baked-in for the pair.
The GBP is kicking off the new week on a high note, lifting in the broader markets ahead of a quiet week for the Sterling with little impactful data on the macro calendar.
The Japanese Taikan Manufacturing indicators missed forecasts and the headline Manufacturing Outlook came in at 20 versus the anticipated 22, and the Yen is loosening its grip on the cross pairs.
GBP/JPY Levels to watch
With markets still half in holiday mode for the Easter long weekend, support for the pair is currently sitting at the last swing low near 148.90 with last week's open at 147.90 providing further support should the bears regain control, while immediate resistance sits very close by at Friday's high near 149.45 and last week's high at 150.60.