Due to the global turmoil GBPJPY
broke the 4Y bull
. Also broke below the 2013 red trendline
, pushed lower to the 2014 low and backtested the cross of the two bull trendlines
. The brake and the backtest seem to be very orderly.
If risk-aversion aimplifies then GBPJPY
is very likely to break below the key support level