The Great Pound Sterling declined by 81 pips or 0.53% against the Japanese Yen on Monday. The currency pair was pressured by the 50– and 200– hour SMAs during yesterday’s trading session.
The GBP/JPY pair is currently trading near a support level at 153.19. If the support line holds, the exchange rate could target the 155.00 area within the following trading session.
However, if the currency exchange rate breaks the 153.00 level, a decline towards the weekly support line at 151.66 could be expected today.
