On Tuesday, the British Pound fell by 106 pips or 0.71% against the Japanese Yen. The currency pair breached a one-month low at 149.19 during Tuesday’s trading session.
Technical indicators suggest that selling signals on 4H and daily time-frame charts. Most likely, the exchange rate could continue to trend lower during Wednesday’s trading session.
However, the lower line of a descending channel pattern could provide support for the GBP/JPY currency exchange rate within this session.
