The GBP/JPY currency pair has been trading downwards since the middle of February after the pair reversed south from the upper boundary of the long-term descending channel pattern.
From a theoretical perspective, the British Pound could continue to trade downside against the Japanese Yen during the following trading sessions. A breakout through the lower boundary of a descending channel pattern could occur.
However, if the given channel pattern holds, an upside reversal could follow within next week’s trading sessions.
