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15 Apr 2015
GBP/JPY: Lapping up big pips in volatility
FXStreet (Guatemala) - GBP/JPY is currently trading at 176.19 with a high of 176.71 and a low of 175.70.
GBP/JPY has seen some big moves, with volatility in the markets and the cross is lapping up 170 pips of a round turn at the extremes of the range between 175.70 / 176.70 and now consolidating at current levels. The Yen has been bid across the board in the US shift in a risk off market, with China printing yet further downside numbers and adding to the global concerns in the market and amid dollar weakness, the Yen is taking the top spot.
Technically, the cross is testing the upwards and steep support line from the lows at 174.86 with 176 the figure acting as support. The bearish trend is overall dominant from the slide through 177.10 of the extension on 179.08 sell off last week.
GBP/JPY has seen some big moves, with volatility in the markets and the cross is lapping up 170 pips of a round turn at the extremes of the range between 175.70 / 176.70 and now consolidating at current levels. The Yen has been bid across the board in the US shift in a risk off market, with China printing yet further downside numbers and adding to the global concerns in the market and amid dollar weakness, the Yen is taking the top spot.
Technically, the cross is testing the upwards and steep support line from the lows at 174.86 with 176 the figure acting as support. The bearish trend is overall dominant from the slide through 177.10 of the extension on 179.08 sell off last week.