GBP/JPY decline pierces 151.50 level

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Source: Dukascopy Bank SA


On Monday, the GBP/JPY currency exchange rate reached below the 151.50 mark. The pair has been declining since March 3, as the Pound has devalued against the Yen by more than 2.50%.

A continuation of the decline might look for support and pause at the 151.00 level, before reaching the weekly S1 simple pivot point at 150.50. Further below, note the 2021 July, August, September and December low level zone, which is located at 148.50/149.50.

In the meantime, a potential recovery of the Pound against the Japanese Yen could encounter resistance in the 152.00 and 152.50 levels. Higher above, note the February low level and the resistance levels at 152.85/153.15.
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