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GBP/JPY dropping to re-test weeks lows

FXstreet.com (London) - Yesterday, GBP/JPY had been attempting to continue in its most recent bearish wave again, after breaking below the psychological 155.00 levels previously. It had consolidated, ahead of awaited economic data in a USD focused market place.

However Sterling had managed to move up in the morning session of Europe and take the Japanese currency to test 154.00, while USDJPY was also attempting resistance levels printing a high for the day at 101.84 bid. A failure for the pair to breakout higher meant that the pair has resumed another wave breaking support lines for an attempt below 153.40 overnight. This move has been exuberated in London’s open to trade at 152.72 the low so far. 152.00 support acts as last defence for 150.70.

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