The GBP/JPY currency pair failed to break the 150.60 resistance level on Thursday. As a result, the British Pound fell by 96 pips or 0.64% against the Japanese Yen during Thursday’s trading session.
The exchange rate could continue to edge lower in a descending channel pattern during the following trading session. The possible target for sellers would be near the 148.50 area.
However, the support line at 149.98 could provide a barrier for bearish traders within this session.
