GbpJpy to break under support?

14 בינו׳ 2022

GbpJpy has had an incredible run in the past 4 weeks, with the pair gaining almost 800 pips.
However, after reaching the 158 zone, GbpJpy started to consolidate in what seems to be distribution.
At this moment the pair is trading slightly under horizontal support and a clear break can happen
At least a correction could follow from now on and my target is 152.50 support
Above 158 this outlook is negated