On Thursday, the British Pound surged by 87 pips or 0.56% against the Japanese Yen. The GBP/JPY currency pair tested the 156.00 level during the Asian session on Friday.
Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, the exchange rate could breakout through the upper line of an ascending channel pattern within this session.
However, the resistance level at 156.08 could provide resistance for the currency exchange rate during Friday’s trading session.
