GBP/JPY Technical Analysis: Whipping roughly within near-term swing points

• Brexit headlines continue to lead the Pound around by the nose, with broad-market GBP sentiment swinging back and forth according to the Brexit rumour mill.
• The GBP/JPY saw plenty of whipping over the last twenty-four hours, peaking near 148.35 and seeing an intraday downspike into 146.32 before wrapping up exactly where it started, at 147.60.

GBP/JPY, 5-Minute chart

• The near-term Guppy chart has the pair constrained by the 200-period moving average, but headline-driven action is keeping technical setups from becoming validated as rapid swings in sentiment, coupled with tightened market volumes, push the GBP/JPY around within recent swings.

GBP/JPY, 30-Minute chart

• Looking back over the past three months, the GBP/JPY is once again trapped within a familiar consolidation zone, but technical bias could be leaning towards the downside as the ceiling remains firmly in place from just beneath the 150.00 major handle.

GBP/JPY, 4-Hour chart