The British Pound plunged by 92 pips or 0.60% against the Japanese Yen on Wednesday. The currency pair breached the 50– and 200– hour SMAs during Wednesday’s trading session.
Everything being equal, the exchange rate could continue to trend lower during the following trading session. The potential target for the GBP/JPY pair will be near the 150.50 area.
However, the weekly support level at 151.10 might provide support for the currency exchange rate within this session.
