FXstreet.com (Barcelona) - The Pound lost about 550 pips against the Yen and broke the upward trending chanel it had been trading since bottoming at 1.2533 on Feb 2.

GBP/JPY has dropped from 136.24 all the way down to support level at 129.40, where is trying to find support at the moment. Hourly charts are bearish, and, in case the aforementioned support line gives way, nest important key levels remain around 128.40, Feb 3 high, and 126,60.

On the upside 130.50 will be the nearest key level, highest point in Jan 30 and Feb4, above there, 131.90 would be on sight.