GBP/JPY analysis: Decline to continue

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

The British Pound traded with low volatility against the Japanese Yen on Thursday. The GBP/JPY currency pair declined by 46 pips or 0.31% during yesterday's trading session.

As for the near future, the exchange rate could continue to edge lower. Bearish traders are likely to target the weekly support level at 148.76 during the following trading session.

However, the currency exchange rate could reverse from an order block at 149.21 within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

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