GBP JPY left 2 week lows
9/19/2016 10:37:23 AM
The GBP/JPY cross left 2 week lows and regained 133.00 handle in the Asian trades, with the recovery mostly driven by a rising correction in the cable after Friday’s massive sell-off.
Currently, GBP/JPY now gains +0.13% to 133.15, having failed to accept the recovery above 133.30 levels up to this session. The GBP/JPY cross keeps the bid tone intact, though trims gains as the USD/JPY pair stays heavy among broad based USD weakness.
Nevertheless, the cross finds support from the corrective rally in the GBP/USD pair after the spot fell more than 250-pips on Friday, subsequent UK finance minister Hammond’s comments.
The pair has an immediate persistence at 134.00, above which 134.40 could be tested. On the other hand, support is seen at 132.35 that at 132.00.