GBP/JPY stalls and starts to reverse at major trendline and our studies suggest the possibility of a recovery higher conditional on break of said trend line.
Read more: Pound-Yen Rate: Bullish Reversal Pattern on Major Trendline
GBP/JPY is forecast to extend its established downtrend but a floor nearby at 2016 low could provide near-term relief.
Read more: The Pound-Yen Exchange Rate Jumps on U.S. Tariff Delay, but Outlook Remains Negative
The Pound-to-Yen rate was trading around 131.66 Tuesday after falling more than two percent so far this week and studies of the charts suggest the exchange rate will probably continue its downtrend in the coming days.
Read more: GBP/JPY Set to Extend Steep Downtrend Through this Week
The Pound's downtrend against the Yen is still intact and because the trend trump's all other considerations the pair is biased to continue lower.
Read more: Pound-Yen Outlook: Marginal Bearish Bias on Account of Dominant Trend
The Pound-to-Yen exchange rate is trading at around 134.63 at the time of writing, after falling almost 0.75% in the previous week, and studies of the charts suggest the exchange rate will probably continue its downtrend in the days to come.
Read more: Pound-Yen Rate Likely to Decline over Coming Days as Downtrend Continues