On Friday, the British Pound surged by 168 pips or 1.08% against the Japanese Yen. The GBP/JPY currency pair tested the 157.40 resistance level during Friday’s trading session.
Technical indicators suggest buying signals on the 4H, daily and weekly time-frame charts. Most likely, the exchange rate could continue to trend higher during the following trading session.
However, if the resistance level at 157.37 holds, a decline towards the 155.50 area within this session.