GBP/JPY dropped to 2 large digits

FXstreet.com (London)-GBP/JPY has been a poor performer dropping two full large figures from 169.76 at 167.85.

Although USD/JPY reaching annual peak overnight, suffered heavy losses while GBP/USD is traded back into the handle to fall sharply from 1.62 to 1.6340. Derek Halpenny, a strategist at the Bank of Tokyo-Mitsubishi UFJ Ltd, explained that the most recent support for the dollar came from news that the House passed the American budget pact agreed last night and with ease; by 332-94 votes.

GBP/JPY Levels

The 20 DMA 50 DMA is 165.85, 160.95 and DMA 200154.00. RSI (14) 28.18 law. Supports are ascending from 166.85, 167.25 and 167.40. Spot is 167.87 168.20, resistors with 169.65, 170.05, 171.35, 173.00 and 173.65.

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