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GBP/JPY retreats, holds above 180.00

FXStreet (Córdoba) - GBP/JPY is making a bearish correction on Tuesday after a 800-pip rally as volatility declines with traders expecting key economic data from the US.

The pair peaked yesterday at 182.50, 6-year high, and the pulled back modestly but finished above 182.00. During the recent Asian session continued to moved to the downside and bottomed on European hours at 181.08. From there bounced and currently trades at 181.40.

GBP/JPY levels to watch

To the upside immediate resistance lies at 181.70 (European session high) and above here at 182.00 followed by 182.50 (November 3 high). On the opposite direction, support might lie at 181.00/10 (daily low), 180.55 and 179.60 (November 3 low).

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