GBP/JPY declines further below 180.00

By FXStreet FXStreet (Córdoba) – GBP/JPY broke below 180.00 and extended the decline. Recently bottomed at 179.13, the lowest level since April. The pair was trading at 179.20, down 0.55% for the day and almost 500 pips below last week highs.

It remains under pressure as the pound tumbles across the board; the currency is the worst performer.

GBP/JPY below the 100-week MA

Today the pair is falling for the fourth day in a row and is consolidating below 180.00 and also under 180.30 (September an October lows) that were important supports. The next long term support that could be seen is the 177.50/70 area.

The recent slide also brought the price under the 100-week MA for the first time since 2012. The technical outlook has weakened significantly for the pair that continues to look for support.
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Source:: FX Street