GBP/JPY Hit Support

The pair is trading at support at the moment gravitating around 169.20-169.60. Main trend continues to be bearish but the Sterling bulls are anticipating these levels and are willing to put some strong effort into pushing prices higher.

According to daily chart, prices should find strong support at current levels and bounce off. Have in mind, that the possibility of breaching this support remains.

Best decision would be to wait for today's candle to close and see where price goes tomorrow as we are in a consolidation state since Jan 11.

Chart: GBP/JPY D1