GBP/JPY - Stuck between 10-DMA & 23.6% Fib

The offered tone around JPY gathered pace in Asia, helping the GBP/JPY cross rebound from 142.87 (23.6% fib of Oct 7 low - Dec 15 high).

However, the bullish momentum failed to secure a break above the 10-DMA level of 143.76. Consequently, the cross appears stuck in a range of 142.87 to 143.76 levels.

The UK data docket is thin; hence the cross remains at the mercy of the overall demand for the Japanese Yen.

Later in the day, the cross could be influenced by the US non-farm payrolls release, wage growth numbers and unemployment rate.

GBP/JPY Technical Levels

A break below 142.87 (23.6% of fib retracement) would expose the psychological level of 142.00. A violation there could yield a drop to 141.72 (200-DMA). On the other hand, a break above 143.75 (10-DMA) would open the door to 144.95 (Jan 4 high) and then to 145.40 (Jan 3 high).