The British Pound has declined by 74 pips or 0.48% against the Japanese Yen on Tuesday. The currency pair tested the lower boundary of a descending channel pattern at 152.82 during Tuesday’s trading session.
As for the near future, the exchange rate could continue to edge lower in the descending channel pattern. A breakout through the lower boundary of the channel pattern could occur.
However, the support level at 152.80 could provide support for the GBP/JPY currency exchange rate within this session.
