The British Pound rose by 62 pips or 0.41% against the Japanese Yen on Friday. The currency pair tested the upper line of a descending channel pattern at 153.74 during Friday’s trading session.
All things being equal, the exchange rate could continue to surge towards the following trading session. A breakout through the upper line of the channel pattern could occur.
However, the 200– hour simple moving average at 153.82 could provide resistance for the GBP/JPY currency exchange rate in his session.
