GBP/JPY Price Analysis: Pound challenging 4-day lows vs. Japanese yen

 

 

GBP/JPY is trading below the main SMA on the four-hour chart suggesting a downward bias. The spot is challenging the 130.80 support where the market found some support a few days ago. However as the dominant trend remains down, bears can try to overcome the 130.80 support level and set their eyes on the 130.00 figure.