Since the middle of Friday’s trading hours, the GBP/JPY currency exchange rate has been fluctuating around the 153.00 mark. Meanwhile, the rate was being approached by the resistance of the 50-hour SMA from above.
In the case that the 50-hour simple moving average pushes the rate down, it could look for support first at the zone above the 152.50 mark. Further below, the zone above 152.00 might act as support.
Meanwhile, a surge of the GBP/JPY pair would have to pass the 50-hour SMA near 153.40 before testing the November 4 and 5 high level zone at 153.70/153.78.
