On Wednesday, the British Pound declined by 108 pips or 0.71% against the Japanese Yen. A breakout occurred through the lower boundary of an ascending channel pattern during Wednesday’s trading session.
All things being equal, bearish traders are likely to continue to drive the exchange rate lower during the following trading session, The potential target for sellers would be near the 149.00 area.
However, the GBP/JPY currency exchange rate could find support at 149.92 within this session.
