GBP/JPY collapses and falls to new 1-month Low

FXStreet – To a standstill in the vicinity of the brand of 143,00 and a subsequent recovery to the center of the 143,00 in early European business, alternates the currency pair GBP/JPY under new selling pressure and slipped to a new One-month Low.

Finally, the currency traded pair on 142,58 and to 1.48% in the Minus. The British currency remained in European trading due to the last disappointing failed domestic growth data under the wheels, which also increased the Concerns about a hard Brexit. In addition, the country is in the light of the terrible terrorist attack in Manchester, still in shock.

For printing on the bottom there is a high demand for yen, which resulted from better-than-expected consumer prices from Japan, and the persistently high risk aversion on the international financial markets on Friday also.

Among other things, were triggered by the decline below 143,00 also great Stops, what could have been the downward movement in the last hours intensified.

In the UK today, no further economic data will be published, so that the overall risk is likely to remain a tendency of the market participants is the exclusive driver behind the evolution of the price of the currency pair.

Technical Levels

The next supports lie at 142,45/40, 142,00, and 141,80/75 (horizontal support. On the other hand, Resistances at 143,00 (psychological mark) and 143,65 (previous support).

** FXStreet News Editorial, FXStreet**

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