The GBPJPY is falling from a Gann calculated 50% level which is often a very powerful point and likely to mean this is a multi month decline.
GBPJPY Weekly Analysis Jan 2016 http://screencast.com/t/0hlEH4BJ

163.50 is a previous demand area, often the first push in a downtrend is related to the next push by the ratio 127%, 168% or 200%, as this appears to be a impulse decline I would favor the expanding ratios around 168% to 200%. There is also a Gann angle from the low at 116.65 which would off…
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