GBP/JPY catches fresh bid, re-takes 137.50

The offered tone behind the yen just got bigger last minutes, sending GBP/JPY higher towards the mid-point of 137 handle.

GBP/JPY takes on the recovery from 137 handle

Currently, GBP/JPY now trades 0.34% higher at 137.41, flirting with session tops reached at 137.47 last minutes. The GBP/JPY cross caught a fresh bid-wave after the buying interest behind the USD/JPY pair picked-up pace as the US dollar turned positive against its six major peers.

While the cable continues to tread water around 1.3280 levels, awaiting fresh impetus from the upcoming UK data in the construction PMI, especially after auspicious manufacturing sector activity report. Further, the US NFP data will also remain in focus for fresh moves in both GBP and JPY.

GBP/JPY Levels to consider 

The pair has an immediate resistance at 138.06 (multi-week tops), above which 138.50 (psychological levels) could be tested. On the flip side, support is seen at 137 (round figure) that at 135.69 (5-DMA).