GBP/JPY analysis: Tests 152.00 level

Dukascopy Bank Team Dukascopy Bank SA

The British Pound has edged higher by 195 pips or 1.30% against the Japanese Yen since yesterday's trading session. The currency pair breached the weekly R2 at 151.69 on Tuesday morning.

The exchange rate is likely to continue to trend bullish during the following trading session. The potential target for buyers will be near the weekly resistance level at 152.50.

However, technical indicators suggest that the currency exchange rate could edge lower during this session.

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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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