Looking for a short entry reason as GBP/JPY enters into former support now turned resistance in the area of 147.00 - 147.35. On the daily time frame, the GBP/JPY is trending lower making a series of lower highs and lower lows. Potential targets on this trade idea are listed as (1) Target = 146; (2) Target = 144.85; & (3) Target = 143.70. Stop loss for this trade idea will be triggered on price action above 147.75. Looking at the 4HR and 1HR time frames to enter the market on selling pressure. This trade idea offers a potential Reward:Risk ratio of 3.4 at (1) Target, 6.29 at (2) Target and over 9 for (3) Target.