With no major News coming out during the day which an effect the pair directly we must only watch out for a slight impact when the News regarding USD (consumer Price Index comes out Today). News on GBP Consumer Price Index MoM which would be released on Wednesday could set off a directional movement for this Pair. Till that time only a slight impulse is expected as a result of USD: Consumer Price Index News, which is slated for later in the day today. Brexit which is slated for this Month end will weigh heavily on the minds of the Traders. Till that time, at least till the last week of Jan 2020 it is expected that GBPJPY will tread downwards looking to test Jan 2020 Low formed on 8th June. The long bottom wick formed on the daily candle would indeed serve as the testing zone for some range bound trading in that zone.
Comment:
I meant "Jan 2020 Low formed on 8th Jan". Thanks.