GBP/JPY analysis: Could still edge higher
|GBP/JPY
On Monday, the British Pound declined by 65 pips or 0.41% against the Japanese Yen. The decline was stopped by the 50– hour simple moving average during Monday's trading session.
Everything being equal, buyers could push the exchange rate higher during the following trading session. The possible target for bullish traders will be near the 158.50 area.
However, the resistance level at 157.37 could still provide resistance for the GBP/JPY currency exchange rate within this 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.