The dragon has taken a beating in 2016, but looking back, it's still far from it worst. In 2008 and 1998, GBPJPY plunge 44% and 37%. There's similarity in RSI as well (highlighted in blue box) and currently, the price is below EMA 50 monthly. Conservatively, GBPJPY could see 160 level and it could see 150 level in this 2016.