The trading range for GBP/JPY is still intact, at least until price closes above 152.86. Further down there is still a gap to be closed, and because it's at a significant Fibo level - 78.6% - it is certainly conceivable for price to reach that far below.
If price were to break below 146.94, then that is the signal to short this market till the gap below. If price holds and reverses at the 146.94 level then one can trade the range again till at least 152.86.