The British Pound plummeted by 77 pips or 0.49% against the Japanese Yen on Tuesday. The currency pair breached the 50– and 200– hour SMAs near the 155.00 level during Tuesday’s trading session.
The exchange rate reversed from the weekly pivot point at 154.72 at the end of yesterday’s session. Most likely, the GBP/JPY pair could continue to edge higher today.
However, the resistance level at 155.40 might still provide resistance for the currency exchange rate in the shorter term.
