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GBP/JPY: 155.80 and traded lower

FXstreet.com (London) - The cross has not recovered as much ground as its counterparts did when Japans economic minister said that the yens weakness could be ‘harmful’ to the economy.

The pair slid from 156.40 territory on Fridays high to open this morning in European markets much lower after the trading in Asia shed around half a big figure to below the 156.00 handle.

This move has touched the bearish channels support within an overall uptrend targeting 156.75. (13th may high). 158.30 comes as next channel resistance and target. 155.80 is supporting until 155.40 and 155.10 with key support in the ascending channel at 154.75.

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