GBP/JPY extends recovery beyond 154 handle, Brexit polls eyed

The pound is seen making minor-recovery attempts against the Japanese yen in the European session, with the GBP/JPY cross looking to regain 154.50 barrier.

GBP/JPY finds support near 5-DMA at 153.57

Currently, GBP/JPY jumps 0.52% to 154.43, trying hard to extend the recovery beyond 154.60 region. The GBP/JPY cross found renewed bids near 5-DMA and from there on climbed back above 154 handle, as the sentiment around the pound still remains buoyed, with most investors betting on the Bremain victory as the UK polls commence.

While on the JPY-side of the story, the persistent risk-on sentiment amid higher European equities and oil prices continues to keep the yen under pressure and hence, adds to the bullishness around the cross.

GBP/JPY Levels to consider 

The pair has an immediate resistance at 155.07 (Jun 10 High), above which 155.73 (11-day highs) would be tested. On the flip side, support is seen at 153.57/53 (5-DMA/ daily low) that at 152.87 (Jun 22 low).