The pair fell nearly six percent
GBP/JPY crumbled in May.
The pair fell to 136.95 from 145.26 at the open of trading on May 3. That’s the worst month for the pair since Brexit in 2016.
Looking back, the chart told the story. There was a wedge and triple bottom at 143.23 that gave way on May 8 and it was straight lower from there. Those technical levels were ones I had been highlighting ahead of the breakdown and afterwards.