The British Pound surged by more than 40 pips or 0.32% against the Japanese Yen on Wednesday. The currency pair tested the upper line of a descending channel pattern at 154.33 during Wednesday’s trading session.
As for the near future, the exchange rate is likely to continue trading in the channel pattern.
Technical indicators suggest that the GBP/JPY currency exchange rate could continue to edge lower in the descending channel pattern during the following trading session.
