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GBP/JPY about to post lowest weekly close since August 2014

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The pound attempted to recover against the yen on Friday, but the recovery was short-lived and resumed the decline. GBP/JPY printed a fresh 14-month low at 170.47 during the American session.

    The pair then stabilize and is about to end the week trading at 171.00, 600 pips below the level it closed December.

    GBP/JPY another week, another decline

    During the last weeks of 2015 the yen started to strengthen while the pound gave signals of weakens; this behavior intensified during the last days of 2015 and after the beginning of the new year, accelerating the decline.

    GBP/JPY is about to post the fifth weekly decline in a row. Since mid-November it lost a dramatic 1500 pips, breaking below 2015 lows (174.50 - 175.00) and now appears to be ready to challenge 170.00.
    For more information, read our latest forex news.

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