On Wednesday, the British Pound surged by 86 pips or 0.56% against the Japanese Yen. The currency pair breached the psychological resistance level at 155.00 during Wednesday’s trading session.
Bullish traders could continue to drive the GBP/JPY exchange rate higher. A breakout through the upper line of an ascending channel pattern could occur within this session.
However, if the channel pattern holds, the currency exchange rate might make a pullback towards the 50– hour simple moving average at 154.51 today.
