On Monday, the British Pound declined by 65 pips or 0.41% against the Japanese Yen. The decline was stopped by the 50– hour simple moving average during Monday’s trading session.
Everything being equal, buyers could push the exchange rate higher during the following trading session. The possible target for bullish traders will be near the 158.50 area.
However, the resistance level at 157.37 could still provide resistance for the GBP/JPY currency exchange rate within this session.
