A narrow ascending channel pattern has been guiding the British Pound against the Japanese Yen. The exchange rate reached a three-month high at 144.77 a few days ago.
The currency pair breached the lower boundary of the ascending channel pattern at 143.38 during the early hours of Thursday’s trading session.
Bears could push the currency exchange rate towards a support cluster formed by the combination of the 100– and 200-hour SMAs at 140.70 during the following trading session.
Although, the GBP/JPY pair could reverse from the 50-hour SMA at 142.89 and continues its upside movement.
