The JPY has moved from one of the stronger currencies to one of the weaker in the last few weeks. While the USD is one of the stronger, the GBP/JPY chart shows the possibility of a buying opportunity coming up.
I see the JPY in a downtrend now so we would want to buy the GBP/JPY on a pullback down to support. This trendline may offer support or we might wait for a crossover of the MACD before entering into a trade. All JPY pairs are worth keeping an eye on right now though as buys are setting up in all pairs.
