With the GBP CPI coming out, it seems people feel that the BOE may choose to loosen their policy. However, most banks have indicated that the end of 2014 should show GBPJPY at 180.
Because, we're most likely ST traders, if you're in SHORT at 169, seems like a good position.
I'm waiting aside, waiting for a breakout. Can't wait for GBP to get onto the silly daylight savings.