GBP/JPY falls again but holds above 171.30

FXStreet (Córdoba) - The GBP/JPY is falling on Friday for the third day in a row but it was able to hold above previous weekly lows. The pair trades at the moment at 171.56, down 0.17% for the day and 35 pips below last Friday closing price.

Technical outlook for the GBP/JPY

Cable lost momentum against the Yen after approaching 173.00 and then pulled back. Since Wednesday’s American session the GBP/JPY has been trading in a range with support at 171.35 and resistance around the 172.00/20 zone.

A break higher could expose 173.00 while to the downside below 171.35, the pair could accelerate to the downside, and would trade at the lowest level since April 15.