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26 Feb 2015
GBP/JPY drops to test yesterday's lows
FXStreet (Córdoba) - The GBP/JPY pair is hovering around 184.00 falling for the first time after rising during the previous three days.
Pound erases gains
During the Asian session the pair reached a 7-week high at 185.00, that capped the upside and after consolidating around the highs for several hours turned to the downside. Initially found support at 184.20 but then broke to the downside amid a sharp decline of the GBP/USD and fell to test yesterday’s lows.
Price remains above 183.50 where Tuesday and Wednesday now lie and then trimmed losses. Currently trades around 184.00, 50 pips below the level it had at the beginning of the day.
GBP/JPY failed to benefit from the USD/JPY rally, that rose from 118.65 to 119.47 weakened by the decline of the cable from 1.5510 to 1.5400.
Pound erases gains
During the Asian session the pair reached a 7-week high at 185.00, that capped the upside and after consolidating around the highs for several hours turned to the downside. Initially found support at 184.20 but then broke to the downside amid a sharp decline of the GBP/USD and fell to test yesterday’s lows.
Price remains above 183.50 where Tuesday and Wednesday now lie and then trimmed losses. Currently trades around 184.00, 50 pips below the level it had at the beginning of the day.
GBP/JPY failed to benefit from the USD/JPY rally, that rose from 118.65 to 119.47 weakened by the decline of the cable from 1.5510 to 1.5400.