GBP/JPY consolidates above 171.50

FXStreet (Córdoba) - The GBP/JPY soared on Wednesday and finished around 171.70, posting the highest daily close since April 3rd. The Pound had the best day since late March against the Japanese currency.

During yesterday’s Asian session the pair broke above 171.00 and gained upside momentum. On European hours, on the back of better-than-expected labor data from the United Kingdom, jumped and reached 172.10. Afterwards pulled back, trimming some gains.

Since the American session the GBP/JPY is moving inside a trading range with support at 171.60 and resistance below 172.00.