Our analysis on GBPJPY hasn't changed much since last week. The trend bias is still .
If we go to the weekly chart, last week the candle closed as a . Where the mother bar is a bar from the previous 2 weeks. Hence, our bias is still - other than price is still above 200.
As of now, price seems to go short on a sentiment. There's a possibility that price might retrace to 0.618 on fib (refer to the chart).
As for us, we will stand aside and let the price dictate its way.
We will only enter the market after we see a clearer picture on where it is going.