GBP/JPY Price Prediction: Testing trendline as it continues sinking

• GBP/JPY has fallen to a trendline for the August rally. 
• The pair is in a downtrend with odds favoring an extension lower. 

GBP/JPY is making an strive to pierce the trendline for the uptrend since the August lows. If it is far successful and decisively breaches the trendline, it would possibly well presumably presumably suggest a note-via lower to a fresh downside purpose at 186.20, the 61.8% Fibonacci of the down creep prior to the trendline (blue rectangle on chart). 

The pair is now in a brief and seemingly medium-duration of time downtrend (since the October 31 excessive) and per technical prognosis lore traits are inclined to expand, suggesting the percentages opt even more downside to arrive again.

GBP/JPY On every day basis Chart 

GBP/JPY is making its blueprint appropriate down to the next purpose for the pair at round 189.56, the low of the Upright-Angled triangle that fashioned in dull September and early October. 

It’s miles also that you would possibly presumably presumably additionally imagine it would possibly well presumably presumably presumably jump from the fresh level at the trendline which is a enhance level.

The Relative Strength Index (RSI) is now not yet oversold which signifies the pair would possibly presumably presumably presumably restful dangle additional to fall earlier than it will get oversold.  

A decisive breach of the trendline would be one accompanied by a lengthy red candlestick that closed end to its lows and properly sure of the trendline, or three consecutive red candles that breached the extent.

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