The British Pound has appreciated by 1.87% in value against the Japanese Yen since the beginning of December. The currency pair was guided up by the 50– period simple moving average.
Currently, the GBP/JPY exchange rate is testing a resistance cluster formed by the weekly R1 and the monthly R2 at 143.53.
If the resistance cluster holds, a decline towards the 141.26 zones could follow within next week’s trading sessions.
However, if the currency exchange rate breaks the weekly R1 and monthly R2, a surge towards the upper border of an ascending channel pattern at 146.10 will be the next target.
