The Pound Sterling fell by 69 pips or 0.45% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during yesterday’s trading session.
Everything being equal, the exchange rate could continue to decline during the following trading session. A breakout through the lower boundary of an ascending channel pattern might occur.
However, the 200– hour SMA at 151.50 could still provide support for the currency exchange rate in this session.
