The 200– hour simple moving average has been guiding the British Pound higher against the Japanese Yen since October 10. The currency pair has appreciated by 1.80% in value since Friday’s trading session.
As for the near future, the GBP/JPY exchange rate will likely continue to gain strength. Bullish traders could target the upper boundary of an ascending channel pattern at 144.12.
On the other hand, the currency exchange rate might reverse from the current price level at 141.55 and trade south during the following trading sessions.
