As for the pound sterling, the latter has been locked in a phase of consolidation since December. However, on the weekly chart, we had a reversal pattern during the week of December 16, 2019, a "bearish swallow". For the moment, the market does not seem to take a bearish direction, on the contrary, it evolves in a range between 144.50 and 141.00 yen. In the short term, the intervention method is simple, it consists in setting up a “trading range” strategy in order to sell or buy one of the two limits then wait for the break to accompany the price momentum in the new direction. .
Graphically, prices came out from the bottom of the bullish channel which framed the recovery since September. Additionally, as discussed in this analysis, the reversal (bearish swallowing) candlestick is not invalidated, therefore, these items point to a downward correction ahead.
Conclusion, my scenario is bearish on the GBP / JPY, however it is necessary to wait for the breakout of the support zone located around 141.00 / 140.50 yen. On the other hand, if the resistance at 144.50 is crossed, coupled with a reintegration of the bullish channel, then the market should gain height towards 147.40 and then 149.50 yen.