After breaking out of a four month range the pound had a sharp decline against the dollar in October, since then the pair has been pulling back and it looks like we could be due for a further bearish decline,the pair has pulled back into a key Fib level and rejected.
USDJPY has formed a base just below monthly support around 100.052, recent price action would suggest that the pair is in early stages of reversal as a key trend line has also been broken. Price is currently testing monthly resistance at 106.131 a break of this level and we can potentially see this pair reach highs of 111.207 in the not too distance future.