On August 24, the British Pound fell by 74 pips or 0.49% against the Japanese Yen. The decline was stopped by the 50– hour simple moving average during Tuesday’s trading session.
Technical indicators suggest selling signals on the daily time-frame chart. Most likely, the GBP/JPY exchange rate could continue to edge lower during the following trading session.
However, the 50– hour SMA could still provide support for the currency exchange rate within this session.
