The British Pound has surged by 3.03% against the Japanese Yen since the middle of August. The exchange rate tested the upper boundary of an ascending channel pattern at 142.50 on August 31.
As for the near future, the currency pair could continue to edge higher. A breakout through the upper boundary of an ascending channel pattern could occur during the following trading sessions.
On the other hand, the currency exchange rate could make a brief retracement towards a support cluster at 140.45 within this week’s trading sessions.
