GBP/JPY loses altitude, breaks below 140.00
|The GBP/JPY pair is chipping away at the psychological support of 140.00 after having failed on Wednesday to capitalize on the sharp recovery from 139.94 levels.
The cross dropped to 139.90; its lowest level since November 29.
Rejected at 141.00
The pair failed at 141.00 levels earlier today on the back of a rise in demand for the Japanese Yen. Meanwhile, the British Pound ranks last on the wish list of the traders, courtesy of Brexit fears.
Consequently, the odds of the pair extending losses below 140.00 levels are high. The UK data docket is empty; hence the focus remains on the Fed speak and overall demand for the Yen.
GBP/JPY Technical Levels
A break below 139.42 (38.2% of 124.786 – 148.459) would open the doors to 139.00 (zero figure) and 138.52 (Nov 29 low). On the other hand, a break above 140.45 (50-DMA) would expose hurdle at 141.00 (zero figure) and 141.52 (200-DMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.