On Tuesday, the British Pound surged by 90 pips or 0.60% against the Japanese Yen. The currency pair tested the resistance level at 154.75 during yesterday’s trading session.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to trend higher through the following trading session.
However, if the GBP/JPY currency exchange rate fails to break the resistance level at 154.75, sellers could target the 153.50 support line within this session.
