On Friday, the British Pound surged by 82 pips or 0.54% against the Japanese Yen. The currency pair was pressured higher by the 50– hour simple moving average during Friday’s trading session.
Given that the exchange rate has breached the upper line of an ascending channel pattern, bullish traders are likely to continue to pressure the GBP/JPY pair higher during the following trading session.
However, buyers could encounter resistance at 153.85 within Monday’s trading session.
