The British pound currency is attempting to recover higher against the Japanese yen after finding support around the 150.65 technical area. The four-hour time frame shows that the GBPJPY pair is trapped inside a large descending broadening wedge pattern. The GBPJPY pair has yet to test the bottom of the mention wedge pattern, which is located around the 149.90 level.
The GBPJPY pair is only bullish while trading above the 151.90 level, key resistance is found at the 152.70 and the 154.00 levels.
If the GBPJPY pair trades below the 151.90 level, sellers may test the 151.65 and 149.90 support levels.
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