GBP/JPY continuing to break higher, edging into 153.00

• Sterling lifts on Brexit confidence while safe haven Yen walks back on Syria cooldown.
• Trade concerns could return to ice over market sentiment soon, with further tariffs in the pipe between the US and China.

The Sterling is stretching for more, testing into 152.80 heading into the Tokyo trading session.

The GBP/JPY stretched upwards for around 170 pips trough-to-peak in Thursday's action, with the Yen receding as market fears over missile attacks in Syria begin to wind down, and the GBP bounced on news that chances of a no-deal Brexit are beginning to look slim as negotiations grind on quietly. 

The risk-on appetite seen in broader markets for Friday's early action could be run into headwinds from China trade balance data, due at 02:00 GMT. With renewed scrutiny on the back of new escalations in the US-China trade spat, trade figures are going to have more eyes on them than normal, and a big hit or miss could produce some sentiment wings.

GBP/USD Levels to watch

The pair has closed higher for seven out of the last eight trading days, and bullish momentum is carrying the GBP/JPY into two-month highs. Bulls will have to contend with resistance at the 155.00 major handle, and the years' highs at 156.60 after that, while bears have a lot of work cut out for them, with support setting up from the 150.00 major handle currently coinciding with the 34-day EMA, and the 200-day SMA further down at 148.70.