GBP/JPY analysis: Could edge higher
|GBP/JPY
On Friday, the British Pound declined by 61 pips or 0.41% against the Japanese Yen. The currency pair tested the psychological support level at 151.00 during Friday's trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the exchange rate could edge higher within this session. The potential target for buyers would be near the 152.50 level.
However, the GBP/JPY currency exchange rate may encounter resistance at 151.77 during the following trading session.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.