GBPJPY BE PATIENT

GBPJPY is a difficult trade right now, we broke through the channel trend line shown in point 1. If you look at the orange arrow it shows the possible range we could be in here, so long or short trades are NOT favorable right now.

I think I will be waiting until something better forms or we hit one of those levels at either side of the orange arrow. If you start trying to time the market for a long term trade here you have the chance of getting hit quite hard.