Greetings.

The GBP/JPY hourly chart shows the overall trend appears to be bearish, however, it looks like we may be in the middle of a potential retracement. Look for the shorter term retracement to potentially head up to test the 123.00 area and above.

Once this upward retracement completes, then look for the pair to potentially head back down sharply.

Good luck with trading and be sure to use your money management.