GBP/JPY drops below 181.00; worst week since 2010

By FXStreet FXStreet (Córdoba) – GBP/JPY is falling against on Friday, headed toward the lowest close in four months. The pair dropped further after the release of the US employment report and recently broke below 180.70 and reached a fresh low at 180.52, level last seen April 28.

The pair remains near the lows, still under pressure amid a stronger yen and a weak pound. While USD/JPY remained steady during the last hours, GBP/USD broke below 1.5200 falling to 3-month lows.

GBP/JPY reversal continues

Since the beginning of the week the pair has fallen more than 600 pips, having so far the worst weekly performance since 2010. It is the third weekly decline in a row.

GBP/JPY was testing multi-year highs just a few weeks ago and now it trading at 4-month lows, in negative territory for the year. Despite oversold technical readings, momentum still favors the yen.
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Source:: FX Street