GBP/JPY analysis: Tests 50-hour SMA

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

The Pound Sterling declined by 44 pips or 0.29% against the Japanese Yen on Tuesday. The decline was stopped by the 50– hour simple moving average during yesterday's trading session.

The 50– hour SMA could propel the currency pair higher during the following trading session.

However, if the exchange rate breaks the support line formed by the 50– hour moving average, bearish traders might target the support level at 152.20 within 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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