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GBP/JPY drops to 174.30, 2-week low

FXStreet (Córdoba) - Cable is falling considerably against the yen for the second day in a row. During the American session GBP/JPY bottomed at 174.30 reaching the lowest price since September 17.

The pair trimmed losses during the last hour and it was trading at 174.70/75, down 0.85% for the day. During the last two days lost more than 300 pips, reversing sharply after reaching in September levels above 180.00.

GBP/JPY level to watch

To the downside, immediate support might lie at 174.30 (daily low) and below here at 173.95 and 173.75. On the other direction, resistance could be located at 176.05 followed by 176.60 and 177.05/10 (September 25, 26 low).

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