GBPJPY Breakdown Analysis

Looking at GBPJPY, we see price on a very strong support on the weekly and daily TF. Drilling down to the 1H TF we see a break in support with a possible retest either to the support turned resistance or pulling back to the 62% - 70.5% Fibonacci retracement level. COT reports shows a weak Pound and a Yen getting slightly stronger on the net positions. So all eyes on the 1H timeframe this coming week.