• GBP/JPY is under a little pressure in Asia following a slide from 150.75 on Monday.
• Yen is attracting a safe haven bid across the board due to covid-19 Omicron. 

GBP/JPY is weighed to the downside following a slide from 150.75 as the yen attracts a safe haven bid with the concerns over covid-19 and the new Omicron variant. 

Covid-19 Omicron variant sinking high-beta FX

The following illustrates the price from a daily and hourly perspective as the bears move in on daily support with risks tilted to the downside for the sessions ahead. 

GBP/JPY daily chart

The price broke the daily dynamic support and is pressuring the daily horizontal support area near 149 to current levels. 

GBP/JPY H1 chart

With the price below the 21-EMA, the bears are in control and there is a risk of the break of the hourly dynamic support.