GBP/JPY analysis: Could continue to trend lower

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

The British Pound declined by 128 pips or 0.84% against the Japanese Yen on Wednesday. The currency pair breached the 151.00 level during Wednesday's trading session.

Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the GBP/JPY exchange rate could continue to trend lower during the following trading session.

However, a support level at 150.72 could provide support for the currency exchange rate in the shorter term.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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