GBP/JPY heads for the lowest close since November 2016

Weaker pound across the board sends GBP/JPY further to the downside.
Pound hit by increasing concerns about UK economy and Brexit worries.

Matías Salord FXStreet

The GBP/JPY pair broke a 8-day trading range to the downside, and reached the lowest intraday level since early January. It bottomed at 134.94 and as of writing, is hovering around 135.00, about to post the lowest close in more than 2 year.

The pound was the worst performer among majors on Monday. After a quiet Asian session it turned to the downside and then dropped constantly. The decline was even more pronounced versus commodity and emerging market currencies.

The yen posted mixed results. It gained on the back of lower US yields but some improvement in risk appetite, mostly during the European session, kept gains limited.

The GBP/JPY lost 70 pips on Monday, breaking a range and left the doors open to more losses. A recovery back above 135.50 would remove the short-term bearish pressure.

More levels

GBP/JPY

Overview
Today last price	135.04
Today Daily Change	-0.66
Today Daily Change %	-0.49
Today daily open	135.7

Trends
Daily SMA20	136.19
Daily SMA50	138.19
Daily SMA100	142.09
Daily SMA200	142.81

Levels
Previous Daily High	136.03
Previous Daily Low	135.49
Previous Weekly High	136.29
Previous Weekly Low	135.08
Previous Monthly High	138.33
Previous Monthly Low	135.37
Daily Fibonacci 38.2%	135.7
Daily Fibonacci 61.8%	135.82
Daily Pivot Point S1	135.45
Daily Pivot Point S2	135.2
Daily Pivot Point S3	134.91
Daily Pivot Point R1	135.99
Daily Pivot Point R2	136.28
Daily Pivot Point R3	136.53

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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