GBP/JPY hits fresh 2-month lows

FXStreet (Córdoba) - GBP/JPY made a short lived recovery at the beginning of the American session and climbed form 177.05 to 178.35 but then turned again to the downside as the GBP/USD moved aways from 1.5200 toward 1.5150.

The pound broke below the 177.00 area and dropped to 176.52, reaching the lowest price since October 31 against the yen. Currently remains below 177.00, headed to the fourth daily decline.

The pair is extending the retracement from 189.70 (December 8 high) and since then it has fallen now more than 1200 pips in less than two months.