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    GBP/JPY extend the upside above 136.00

    The selling bias around the Japanese Yen is helping GBP/JPY to advance further north of the 136.00 handle on Monday.GBP/JPY up on GBP buyingThe cross is posting decent gains at the beginning of the week, extending the rebound from last week’s troughs in the 135.70 area and putting further distance from post-‘Brexit’ lows in the 133.20 zone.It will be a fairly quiet docket in Japan during the first half of the week, whereas developments in the UK post-‘Brexit’ vote should remain poised to drive sentiment.Additionally, UK’s Construction PMI is due later today, followed by Services PMI, the BoE’s Financial Stability Report and the speech by Governor M.Carney all due tomorrow.GBP/JPY key levelsAs the moment the cross is advancing 0.28% at 136.47 and a break above 139.05 (high Jun.29) would expose 146.29 (20-day sma) and finally 153.88 (55-day sma). On the other hand, the next support lines up at 133.18 (post-Brexit low Jun.24) ahead of 131.50 (monthly low Dec.2012) and then 125.63 (monthly low Nov.2012).


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