What caused this huge Drop in GBPJPY?

any idea?

First of all..it's a seller vs buyer ..i dont know about fundies but on the chart gbp-jy facing a major resistance on 213 ( already tested several times and so far just poke but not brake)..a major resistance or support can slow down the trend or even turning the trend.IMO

pretty strange to see jpy so active at this time..

why do you think so? this pair is always very active and steady for surprises, isn´t it?

try look at bloomberg...

London, February 27. A rumour that a UK clearer might be having trouble raising funds is being touted as a factor in cable"s sharp retreat to 1.9892 (today"s early Asian session top) from a 2008 high of 1.9972. A UK clearer has this morning issued three and six month Certificates of Deposit this morning (please see earlier EUR GOVTS story timed 09:00GMT).

The other thing is that *ahem* it's GBP/JPY and the London session is in full swing at the moment...

UJ and GU both fell at the same time - thus GJ moves extra fast

This is the most active time for JPY both Asia and Europe are open - just check your charts over a few months and can see for yourself

It was all UJ......UJ was hovering at about 106.85 +/- and then it dropped like a rock.

UJ didn't beat down the dollar quite so bad yesterday like the Swissy and Euro did.

Tough resistance, UJ also broke lower daily TL.

very simple.

HI, I was speculating to whether the 2880ema on the 15M would provide an support in the near future and then I see this. Some one sold alot pounds is the only answer right?

I wonder why the 720ema on the 15M caught it??

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