GBP/JPY ends slightly lower, above 171.00

FXstreet.com (Córdoba) - The GBP/JPY opened the Asian session on a quiet note, hovering around 171.15. On Wednesday the pair posted a small decline, but managed to finish far from the lows. The Pound bottomed at 170.42 and rebounded rising back above 171.00. The recovery from the lows found resistance at 171.35.

GBP/JPY volatility eases

The trading range of Wednesday was the smallest in a week. The GBP/JPY peaked at 171.59 and reached a daily low at 170.42, completing a range of 117 pips that is not necessarily small but is considerably smaller than the previous days.

While the GBP/USD made strong moves on Wednesday, the USD/JPY stabilized and moved in a range of less than 60 pips, contributing to calm the GBP/JPY.