This is a set up I saw on the 1 hour time frame and after some lower timeframe analysis I realized this is an ideal entry on GJ. After missed expectations on Japanese unemployment numbers, I was expecting a retrace back above 153.550, this was not the case. GBPJPY had a sharp selloff and has stair-stepped back into an area I consider safe for a long. Something that sparked my interest was that British home prices pushed up 13.4% YoY which is great for economic breadth. Today Britain also has monthly M4 Money supply reports and consumer lending data which could help contribute to understanding of this being inflationary or growth backed price changes.