Is it time for GBPJPY to reverse and head higher.
For a while now, GBPJPY has been on a down trend taking out lows and creating new lows. However, i see signs of exhaustion on this pair, but i am convince GBPJPY is still going to see lower levels before finding a strong support and then start to head back up to 146.150. Currently am looking at the 1 H time frame on this pair for a break below the trend line which i have highlighted. A break below that will be the catalyst which will drive GBPJPY lower to see 144.000, possibly even going lower before it's going to find support and then start to head back up.
Note
GBPJPY played out exactly as i predicted. My entry on this trade was on the 30 min chart.
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