The British Pound declined by 106 pips or 0.68% against the Japanese Yen on Tuesday. The decline was stopped by the 200– hour simple moving average during Tuesday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for the GBP/JPY pair will be near the 154.00 level.
However, the 200– hour SMA at 154.76 could still provide support for the currency exchange rate within this session.
