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22 May 2015
GBP/JPY drops sharply from 190.00
FXStreet (Córdoba) - GBP/JPY was testing the 190.00 handle but turned to the downside and accelerated after US economic data and Wall Street opening bell. The pair recently printed a fresh daily low 188.19. Price has approached yesterday's lows that lie at 187.95.
The decline happened despite the rally of USD/JPY to fresh monthly highs; but on the other side, GBP/USD plummeted from 1.5650 to 1.5500.
GBP/JPY technical levels
To the downside, immediate support lies at 187.95 (May 21 low), followed by 187.30 (May 18 low) and 186.70 (May 12 low). On the opposite direction, a recovery of the pound could face resistance at 188.90, 189.35 and 189.70 (daily high). On a wide perspective, the area around 190.00 is the key resistance that was tested yesterday.
The decline happened despite the rally of USD/JPY to fresh monthly highs; but on the other side, GBP/USD plummeted from 1.5650 to 1.5500.
GBP/JPY technical levels
To the downside, immediate support lies at 187.95 (May 21 low), followed by 187.30 (May 18 low) and 186.70 (May 12 low). On the opposite direction, a recovery of the pound could face resistance at 188.90, 189.35 and 189.70 (daily high). On a wide perspective, the area around 190.00 is the key resistance that was tested yesterday.