GBP/JPY – A 1000-pip drop on ‘exit’ vote lead

GBP/JPY cross suffered a more than 1000-pip drop from the high of 160.12 after poll results began showing ‘exit’ vote in lead.

The cross printed a low of 147.18 before trimming losses to trade around 153.50 levels. The offered tone around GBP remains strong as the latest update shows ‘Leave’ vote is leading by almost 10%.

GBP/JPY Major levels

On Brexit – Major support at 145.39 (June 16 low) could be breached.

On Bremain – Resistance at 160.12 (Asian session high) could be taken out.