The pound exchange rate declines against strong yen today

The pound to yen exchange rate falls today

In brief: The yen exchange rate rises, the pound continued to retreat. Analysts point out new prospects for the yen.

Pound / Yen begins a new day in trying to continue to decline, but any encounter good demand near Y135.85, a currency strategist at Citigroup recommended to consider the weakening of both the correction promising bulls bright.

The bank pay attention to the fact that after the stabilization of the above support at Y131.30, the British currency broke above resistance at Y135.64, violating the consolidation of trade, which dominated the beginning of June, and now the pound / yen can be expected of a rising momentum in direction Y141/Y142. At Citigroup had previously recommended to buy a pair of Y136.27 with a stop at Y134.30. She currently holds around Y136.16, Ofer noted in the Y136.25/30, the larger are in Y136.50/60.

Igor Tringlers
2010-08-01 18:34, Currency news.

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