The British pound appears poised to breakout against the Japanese yen in the short-term, as the pair remains trapped in a descending triangle pattern. A bullish breakout above the top of the mentioned triangle pattern could take the GBPJPY pair towards the 151.50 resistance level. A breakout underneath the triangle could take the GBPJPY pair towards the 148.60 support level.
The GBPJPY pair is only bullish while trading above the 150.00 level, key resistance is found at the 150.80 and the 151.50 levels.
If the GBPJPY pair trades below the 150.00, sellers may test the 149.30 and 148.60 support levels.
