On Monday, the British Pound surged by 126 pips or 0.84% against the Japanese Yen. A breakout occurred through the upper boundary of a descending channel pattern during yesterday’s trading session.
Given that a breakout has occurred, bullish traders are likely to continue to pressure the exchange rate price higher during the following trading session.
However, the 200– hour simple moving average at 151.04 could provide resistance for the GBP/JPY currency exchange rate within Tuesday’s trading session.
