The British Pound has surged by 1.94% in value against the Japanese Yen since January 8. The currency pair tested a resistance cluster formed by the weekly R1 and the monthly pivot point at 144.33 during yesterday’s trading session.
The exchange rate will most likely continue to edge higher during the following trading sessions. The potential target for the GBP/JPY pair will be near a psychological resistance level at 146.00.
However, the resistance cluster at 144.45 could continue to provide resistance for the currency exchange rate in the shorter term.
