GBP/JPY has declined as we expected. It should now stay below minor resistance at 131.42 as the downside pressure is likely to extend towards 127.69 and ultimately below 123.99 to complete the long-term decline from 147.95. Ideally, resistance in the 130.22 – 130.58 area will cap the upside for a continued downside pressure towards 127.69 […]