10 Jul 2014
GBP/JPY trims losses and rises back above 173.00
FXStreet (Córdoba) - The GBP/JPY bottomed at 172.93 during the European session, reaching levels not seen since June 30. But the pair was rejected from below 173.00 and rebounded to the upside, recovering further on American hours, on the back of a stronger Pound.
From the lows rose more than 50 pips and currently trades at session highs at 173.57, but still 0.45% below the price it had at the beginning of the day.
The pair is headed toward the lowest daily close since the beginning of the month and the fourth daily loss out of the last five trading days. Cable continues to move lower, on a bearish correction after climbing last week to 175.35, the highest price since 2008.
From the lows rose more than 50 pips and currently trades at session highs at 173.57, but still 0.45% below the price it had at the beginning of the day.
The pair is headed toward the lowest daily close since the beginning of the month and the fourth daily loss out of the last five trading days. Cable continues to move lower, on a bearish correction after climbing last week to 175.35, the highest price since 2008.