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GBP/JPY hits 1-week low below 177.00

FXStreet (Córdoba) - The yen is rising considerably across the board on Wednesday as USD/JPY reverses sharply from 110.00 toward 109.00. GBP/JPY was moving sideways since last Thursday, with a slightly bullish bias; but after Wall Street opening bell, a strong yen pushed the pair to the downside.

GBP/JPY broke below 177.40 and accelerated to the downside. Price bottomed recently at 176.85, reaching the lowest level since September 23.

GBP/JPY levels to watch

The pair is holding below 177.00, with immediate support at 176.85 (daily low) followed by 176.60/65 (September 23 low) and 176.15/20 (September 18 low). On the other side, immediate resistance now could be seen at 177.40 and above here at 178.10/15 (current weekly high).

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