GBP/JPY fell to a low of 131.61, its weakest level since November 2016
This will be one to watch ahead of the daily close today with price contesting a firm break below the January flash crash low of 131.70.
Things are just not falling into place for the pound and there’s potentially more room to fall given the technical breakdown across multiple charts at this point.
The bleeding will stop when it stops so once again, I would advise not to go picking at a bottom when you see something like this.
For GBP/JPY, further support below the January flash crash is seen closer towards the 130.00 handle with the 76.4 retracement level seen @ 129.87.