GBP/JPY touches a high of 147.78 on the day
The pair is also seeing bids after holding on to the 100-hour MA (red line) in trading today. And with bids in sterling now, the pair is jumping to session highs and is moving towards the high yesterday @ 147.85.
The next key event on the day for the pair will be the UK labour market report at 0830 GMT, so be wary of that. Key levels to watch will be resistance at 147.85, 148.00 (along with offers), and 148.12 - last week's high.
Towards the downside, the 100-hour MA @ 147.30 will be a key level to watch should the data disappoint followed by bids at 147.00.
Looking at the bigger picture though, upside in the pair is still capped by the 50.0 retracement level @ 147.96 and the upwards trendline (support-turned-resistance) which sits near 148.15 for today. So, those two will be key levels to break above to justify an extension to the upside.