GBP/JPY has been recovering since August after it found support around 127. However, after almost reaching 136, it found resistance.$GBPJPY Daily Chart(click to enlarge)Support Turned Resistance:- The fact that this 136 area was a previous support pivot suggests that GBP/JPY is still bearish and might come back down to challenge the current lows on the year around 127.- If price does come down to 127, I would suspect more downside towards the 2016 low around 125.- I wouldn't be surprised if GBP/JPY falls to 117 before finding support, though I suspect we will see support around 120. GBPJPY Weekly Chart(click to enlarge)