THe GBPJPY give up the gains it made in one fell swoop on the last day of the trading week. We expect to see price recover from here in choppy fashion to complete a wave 5 impulse before a macro trend reversal for the pair. This level is great for a buy if you can get in at market open next week, otherwise wait for the choppy range to form and a break out of the range to get in. Our upside target is around 170.