There might be some tight trailing stops above the overnight GBP/JPY high at 157.10 which the market will gun for in thin twilight zone trade. The pair has popped up from 156.75 to 156.95 in the last few minutes.
157 is also the 38.2% retracement of the 162.9/153.35 fall and perhaps that is why the level is attracting some interest.
