GBP JPY Declined Suddenly
8/2/2016 10:11:28 AM
The cross in the GBP/JPY erased gains and dropped suddenly in the red zone, as the GBP was heavily solid-off into sharp JPY rise after Japan’s government officially declared stimulus package in a bid to recover economic growth. GBP/JPY pulled by a powerful JPY At present, GBP/JPY now trades -0.53% lower at 134.25, floating inside a remarkable distance of 3 week lows struck at 134.07. The JPY received substantial strength across the board after the Japanese government ultimately confirmed JPY 28 trillion economic stimulus package this Tuesday, even though the figure disappointed markets expectations of more than 28 trln JPY stimulus. The pair has an immediate persistence at 135.23, above which 136 would be tested. On the other hand, support is seen at 134 that at 133.39.