GBP/JPY analysis: Decline likely to continue

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

Downside risks have dominated the British Pound against the Japanese Yen since yesterday's trading session. The currency pair tested the weekly support level at 151.29 on Wednesday morning.

All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for sellers will be near the 150.80 level.

However, the currency exchange rate might bounce off from a support level at 151.29 within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

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