The British Pound Continues to Decline Against The Japanese Yen

Negative trading continues to pressure the pound against the Japanese yen within the expected bearish path after the pair failed to maintain trading above 149.80.

On the technical side, we tend to be negative, with stochastic gaining bearish momentum, which is accompanied by the negative pressure from the 50-day moving average.

Therefore, the first target will be 148.30/148.20, and breaking the aforementioned level may extend the pair’s losses, so the way is open directly towards 147.60. Activating the bearish scenario depends on intraday trading remaining below 149.80.

S1: 148.25	R1: 150.25
S2: 147.55	R2: 151.60
S3: 146.30	R3: 152.30