GBP/JPY one to watch with recent Yen moves and May on Brexit

GBP/JPY dropped heavily on the back of UK's PM, May, announcing intentions to trigger article 50 at the end of March. 

GBP/JPY fell from 131.44 and reached a low of 130.82, but is currently making a comeback albeit in a volatile manner with a huge spike to the downside in the Yen in the last moments. The move might be explained in accordance to what happened last week, almost entirely in the same dimensions in the Yen. 

Old school rate checking by BOJ behind USD/JPY pop?

GBP/JPY levels

GBP/JPY has been in a downward trend since 132.40 late Sep highs on the minor recovery of the early Sep sell-off from 138.80. 132.00 has been a constant barrier in recoveries while 129.60 has been a supporting factor in the bull's minor recovery attempts. 129.20 is the key downside target for the bears while 133.60 and the 4hr 200 sma holds a significant and historical level as far back as August 2016 and Feb 2012.