FXStreet (Córdoba) – The pound is falling against the Japanese yen for the second day in a row, retreating from multi-year highs but still holds in positive territory for the week and holding above 194.00.
GBP/JPY on Wednesday reached at 195.82 the strongest level since September 2008 and then retreated. Today price found resistance at 195.50 and during the American session dropped toward yesterday’s lows that lie at 194.30 as USD/JPY retreated below 123.00. The yen on Friday is among the best performer in the currency market.
Currently trades at 194.70/80, 300 pips above the level it had a week ago and headed toward the tenth weekly gain in a row. The pound was the biggest gainer among majors during the last five days.
(Market News Provided by FXstreet)