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Forex: GBP/JPY barely above 141.00 dragged on Pound weakness

FXstreet.com (Barcelona) - Dragged on continued Pound weakness for last 2 trading days, being Pound the weakest currency among majors in that time span, and Yen strength, just the opposite, the strongest one, the cross GBP/JPY is currently dealing with fresh 4-week lows last at 141.10, off absolute lows at 140.95.

The cross is down -1.48% so far for the week, even though Yen has been easing a bit since yesterday's fresh 1-month lows at 92.55 in USD/JPY, last at 93.53, while Nikkei index bounces +1.7% after losing around -5% from fresh 4.5-year highs by mid March above the 12650 points, last at 12207. Tomorrow's first BoJ meeting with Kuroda as chairman and later on BoE meeting will be next 2 biggest risk events for the cross.

Immediate support to the downside for GBP/JPY lies at mentioned recent weekly lows 140.95, followed by Jan 16 lows at 140.50, and Jan 23 lows at 139.26. To the upside, closest resistance shows at March 25 lows 141.88, followed by March 18 lows at 142.36, and Feb 15 lows at 142.76.

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