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1 Aug 2014
GBP/JPY breaks below 172.50, falls to 1-month low
FXStreet (Córdoba) - The GBP/JPY is falling more than a hundred pips on Friday and recently hit a 1-month low at 172.36. Price remains near the lows, headed toward the lowest daily close since June 12.
Before the release of UK economic data the GBP/JPY rose to 173.83 but then reversed sharply and fell toward 173.20. The NFP report in the US boosted the yen across the board and pushed the GBP/JPY further to the downside.
GBP/JPY from 2-week high to 1-month low
On Wednesday the pair rose to 174.17, level not seen in two weeks and when it was ready to continue with the bullish rally, reversed sharply and now the short term outlook has turned bearish.
Before the release of UK economic data the GBP/JPY rose to 173.83 but then reversed sharply and fell toward 173.20. The NFP report in the US boosted the yen across the board and pushed the GBP/JPY further to the downside.
GBP/JPY from 2-week high to 1-month low
On Wednesday the pair rose to 174.17, level not seen in two weeks and when it was ready to continue with the bullish rally, reversed sharply and now the short term outlook has turned bearish.