can you handle the truth ?

This 1H chart pleases 2 kinds of traders.

The long traders who got in on 13 Dec at 0500 hours and ride the trend up for an hour to earn more than 2% returns immediately.

The short traders who got in on 13 Dec at 1000 hours and slowly ride the trend down to where it breaks out from the support at 143.707.

All GBP pairs are still in a bullish uptrend so this correction is likely to be over.

I see some support at 143.707 after 5 days of blood letting on the street for this pair, GBPJPY.

It can gain traction from the support and continue to breakout of the bearish trend line and goes higher.

OR, it can goes sideway for a while,then breakdown to the next support at 142.854 much to the dismay of the long traders.

So be patient and ride this storm out and you will be rewarded. Panic and do irrational thing and you find yourself buying at much higher price and have to exit at even higher price to earn the same level of profits, sometimes much lesser.