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GBP/JPY falls toward 184.00, hits 2-week lows

FXStreet (Córdoba) - The pound is the worst performer among European currencies on Tuesday. Against the yen is trading at the lowest level in two weeks after breaking an important support. The Japanese yen is rising across the board amid risk aversion.

GBP/JPY testing 184.00

The pair started to decline on Asian hours and accelerated afterwards, extending the decline to more than 200 pips. Recently fell below last week lows located at 184.15 and bottomed at 184.06, the lowest since September 8.

Currently GBP/JPY trades at at 184.20/25, down 1.40% for the day, having the worst performance in three weeks.

So far the decline was capped above 184.00, but a daily close below 184.50 could signal that bearish pressure still persists. During the previous week the pound avoided a daily close below the mentioned area, that become a key support.

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