GBP/JPY bullish run likely to continue

Dukascopy Bank Team Dukascopy Bank SA

GBP/JPY

The British Pound surged by 76 pips or 0.50% against the Japanese Yen on Wednesday. The currency pair tested the upper boundary of an ascending channel pattern during yesterday's trading session.

Everything being equal, the GBP/JPY currency exchange rate could continue to trend bullish during the following trading session. A breakout through the upper line of the channel pattern could occur.

However, if the ascending channel holds, a decline towards the 153.00 level could be expected today.

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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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