GBP/JPY Technical Analysis: Yen selling gives the Guppy a leg up past 145.50

• The GBP/JPY saw a soft rise over the past twenty-four hours, lifting from the week's open near 144.75 to a near-term high of 145.75.
• The near-term bounce is likely owing to a softening of the JPY, and risk-on/off flows could see a firm hand on market direction this week.

GBP/JPY Chart, 5-Minute

• The past two weeks have seen the Guppy struggle to regain a bullish poise after risk-off took the pair down from highs just below the major 150.00 handle, but bidders have managed to halt declines and price in a floor from the 144.00 level.

GBP/JPY Chart, 30-Minute

• The GBP/JPY continues to cycle in a rough range through the medium-term, constrained by a ceiling from the 148.00-150.00 region while stuck on softly-rising lows from 144.50, highlighting the Guppy's exposure to broad-market risk flows.

GBP/JPY Chart, 4-Hour