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21 Aug 2015
GBP/JPY testing August lows; near 192.00
FXStreet (Córdoba) - The pound is falling against the yen on Friday, extending weekly losses. GBP/JPY currently is testing the 192.00 support area, where August lows are located. A break lower, could trigger a bigger slide.
GBP/JPY falling constantly since Wednesday
The pair has been moving with a bearish bias since Wednesday, when after being unable to hold above 195.00 started to decline. On Thursday accelerated to the downside and also today amid risk aversion, that boosted the yen in the market.
While GBP/USD remained resilient and trading near 1.5700, USD/JPY plunged and fell from 124.30 to 122.40.
Worst week since March
So far GBP/JPY has been able to contain losses as it holds above 192.00 but even if it ends the week around current levels (192.10/15), it would had the worst weekly result since early March, down 250 pips during the last five trading days.
GBP/JPY falling constantly since Wednesday
The pair has been moving with a bearish bias since Wednesday, when after being unable to hold above 195.00 started to decline. On Thursday accelerated to the downside and also today amid risk aversion, that boosted the yen in the market.
While GBP/USD remained resilient and trading near 1.5700, USD/JPY plunged and fell from 124.30 to 122.40.
Worst week since March
So far GBP/JPY has been able to contain losses as it holds above 192.00 but even if it ends the week around current levels (192.10/15), it would had the worst weekly result since early March, down 250 pips during the last five trading days.