The British Pound edged lower by 58 pips or 0.37% against the Japanese Yen on Friday. The currency pair breached a support cluster at the 154.20 level during Friday’s trading session.
The exchange rate is likely to continue to decline during the following trading session. Bearish traders could target the weekly support level at 153.51.
However, technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the currency exchange rate could edge higher within this session.
