The British Pound has increased its trading range against the Japanese Yen. The upward movement started on October 9 and had since gained about 7.42% in value.
Currently, the 50– period simple moving average is providing support for the currency pair at 140.06.
If the support level continues to hold, a surge towards the weekly R3 at 145.97 could occur.
However, if the currency exchange rate breaks the 50– period SMA, bearish traders might target the 137.43 area in the short-term.
