Dukascopy Bank Team
Dukascopy Bank SA
GBP/JPY
The British Pound edged higher by 96 pips or 0.62% against the Japanese Yen on Monday. The currency pair breached the upper line of a descending channel pattern at 155.32 during yesterday's trading session.
Given that a breakout has occurred, buyers are likely to continue to pressure the price higher during the following trading session. The potential target for the exchange rate will be near the weekly resistance level at 155.91.
However, the currency exchange rate might reverse from the current price level at 155.36 and target the weekly pivot point at 154.72 in this session.
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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