GBP/JPY
Downside risks dominated the GBP/JPY currency pair on Tuesday. As a result, the British Pound plunged by 138 pips or 0.91% against the Japanese Yen during Tuesday's trading session.
Given that a breakout has occurred, bearish traders could continue to drive the exchange rate lower during the following trading session. The possible target for sellers would be near the 150.80 area.
However, a support level at 151.22 could provide support for the currency exchange rate within 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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