The British Pound has declined by 1.91% against the Japanese Yen since October 21. The GBP/JPY currency pair tested the 135.00 level during yesterday’s trading session.
All things being equal, the exchange rate will most likely continue to edge lower during the following trading sessions. A breakout through the lower boundary of a descending channel pattern could occur.
However, given that the currency exchange rate has bounced off from the support line at 135.00, bullish traders might attempt to target the 137.00 level during the following trading sessions.
