GBP/JPY depressed near 132.00, JPY bids weigh

The buying pressure surrounding the Japanese currency relegates GBP/JPY to trade in red figures near the key support at 132.00 the figure.

GBP/JPY lower ahead of BoE

The selling pressure continues to hit the greenback and at the same time is giving extra wings to the Japanese safe haven, prompting the cross to stay immersed in the negative territory for the second session in a row and extend August decline.

Data wise in Japan, Tertiary Industry Activity index has come in above expectations, adding to JPY bid tone, whereas the BoE’s Agent’s Summary of Business Conditions will keep the attention on the British pound later in the European morning.

GBP/JPY key levels

As the moment the cross is retreating 0.12% at 132.31 and a break below 132.05 (low Aug.9) would open the door to 130.00 (psychological level) and then 128.77 (2016 low Jul.6). On the flip side, the initial hurdle lines up at 136.86 (20-day sma) ahead of 143.25 (high Jul.15) and finally 144.50 (50% Fibo of post-Brexit down move).