The British Pound edged higher by 104 pips or 0.69% against the Japanese Yen on Monday. The currency pair was pressured higher by the 50– hour simple moving average during yesterday’s trading session.
By and large, bullish traders are likely to continue to drive the exchange rate higher during Tuesday’s trading session. The possible target for the GBP/JPY pair will be near the 153.50 level.
However, the currency exchange rate might encounter a barrier near the 152.50 area within this session.
