Upside risk pressured the British Pound against the Japanese Yen on Tuesday. The currency pair bounced off a support cluster at the 150.23 area during yesterday’s trading session.
Given that the exchange rate is currently trading above the 50- and 200- hour SMAs, bullish traders could drive the GBP/JPY pair towards the 152.00 level during the following trading session.
However, the weekly resistance level at 151.41 could provide resistance for the currency exchange rate within the following trading session.
