GBP/JPY reaching for 142.00 in low-momentum bullish bounce

• The Guppy is seeing limited bounceback into 142.00 after slipping to a new three-month low.
• A delayed Brexit vote is doing the Sterling little favours.

GBP/JPY is catching some mild lift in the early Asian trading session, in play just shy of the 142.00 major handle. This trading week has seen the Guppy accelerate movement to the bearish side, steepening a dropaway from the 200-period moving average, and this week's bottom at 141.17 sees a new three-and-a-half month low for the Guppy.

With Tuesday's Brexit vote canceled at the last minute, Sterling investors will now be keeping an eye out for headlines surrounding a no-confidence vote in Prime Minister Theresa May, and Wednesday sees UK economic data taking the day off after yesterday's better than expected earnings call, which still failed to spur the GBP into higher territory as market fundamentals continue to weigh.

GBPJPY Technical Levels