On Thursday, the British Pound surged by 59 pips or 0.39% against the Japanese Yen. A breakout occurred through the upper boundary of a descending channel pattern during Thursday’s trading session.
Given that a breakout has occurred, bullish traders are likely to continue to pressure the exchange rate higher during the following trading session. The potential target for buyers will be near the 153.80 area.
However, the GBP/JPY currency exchange rate might encounter resistance at 152.20 within this session.
