The British Pound has declined by 4.93% against the Japanese Yen since September 1. The GBP/JPY currency pair tested the 135.50 level during this week’s trading sessions.
All things being equal, the exchange rate could continue to edge lower in a descending channel pattern through the following trading sessions. The potential target for bears would be at the 133.00 area.
On the other hand, the currency exchange rate could make a U-turn from the current price level at 135.78 and target the 138.50 mark during next week’s trading sessions.
