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GBP/JPY falls to 8-month lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 21, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - GBP/JPY is falling for the third day in a row and broke below September lows hitting the lowest level in eight months. The pair bottomed at 179.95 and quickly rose back above 180.00 but still remains under pressure, currently trading at 180.12/16.

    While the pound is among the worst performers in the currency market, the Japanese yen is holding with USD/JPY testing the support area around 121.00. GBP/USD is trading at daily lows under 1.4900.

    GBP/JPY technical levels

    To the downside, support levels might lie at 179.30/40 (May 8 & 9 high), 178.50 (Apr 1 high) and 176.45 (March lows). On the opposite direction, resistance might now be seen at 180.35 (previous lows), 182.10 (Dec 14 low) and 184.10 (20-day MA / Dec 18 high).
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