HomeContributorsTechnical AnalysisGBP/JPY Declines To Continue

GBP/JPY Declines To Continue

The Pound Sterling has continued to edge lower against the Japanese Yen since this week’s trading sessions. The currency pair declined by 105 pips or 0.70% during Thursday’s trading session.

Everything being equal, the GBP/JPY exchange rate is likely to continue to decline in a narrow descending channel pattern during the following trading session. The potential target for bearish traders will be near the 149.00 area.

However, the weekly S2 at 149.62 could provide support for the currency exchange rate in the shorter term.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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