GBP/JPY touches a low of 140.33 on the day
A move towards 140.00 looks very much on the cards now. The yen is making strides again as equities are continuing to fall on the session. That is causing the euro and sterling to fall to near the lows on the day against the dollar as well.
As for GBP/JPY, there isn't much support I can point to apart from the 140.00 handle now before a move towards the August 2017 low @ 139.31 comes into play. There is some support around the 139.80-85 levels as well but a break of the 140.00 handle would leave that rather insignificant should we get there.
If you need some idea of how much the momentum has been favouring sellers, a lower close today would mark nine consecutive daily losses for the pair.
