On Friday, the British Pound edged lower by 86 pips or 0.56% against the Japanese Yen. The currency pair breached the 50- and 200- hour SMAs during Friday’s trading session.
Given that the exchange rate has breached the 50- and 200- hour simple moving averages, sellers could continue to drive the price lower during Monday’s session. The potential target for the GBP/JPY pair would be near the 152.50 area.
However, the currency exchange rate could find support at 153.19 within this session.
