The British Pound declined by 78 pips or 0.50% against the Japanese Yen on Thursday. The currency pair breached the 50– hour simple moving average during Thursday’s trading session.
The GBP/JPY exchange rate is likely to continue to edge lower during Friday’s trading session. The potential target for bearish traders could be near the 200– hour SMA at 152.78.
However, sellers could encounter a barrier at the 153.30 level during the following trading session.
