GBP/JPY analysis: Potential target at 153.50

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

On Tuesday, the British Pound edged higher by 84 pips or 0.55% against the Japanese Yen. The exchange rate tested the resistance level at 152.68 during Tuesday's trading session.

The currency pair could continue to surge in an ascending channel pattern during the following trading session. The potential target for the GBP/JPY pair will be near the weekly resistance level at 153.25.

However, bullish traders might still encounter resistance at 152.58 within Wednesday's trading session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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