The Pound Sterling edged higher by 62 pips or 0.40% against the Japanese Yen on Thursday. The surge was stopped by the 200– hour simple moving average during yesterday’s trading session.
Everything being equal, the GBP/JPY exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders will be near the 154.50 level.
However, the upper boundary of a descending channel pattern could provide resistance for the currency exchange rate within this session.
