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GBP/JPY drops to 174.00, 3-week low

FXStreet (Córdoba) - GBP/JPY is falling almost a hundred pips on Tuesday on the back of a strong yen in the market. Recently printed a fresh low at 174.00, a level not seen since September 16.

So far the 174.00 area capped the decline, but the pair remains under pressure, with traders also looking at USD/JPY, holding slightly above 108.00. The Japanese currency is among the best performers on Tuesday,

GBP/JPY short term levels

To the downside immediate support lies at 174.00 (daily low) and below here at 173.80, 173.65 and 173.30. On the other direction, resistance now could be located at 174.30 and above at 174.65.

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