Here are a few breakout scenarios that might play out on GBP/JPY.... Since the price found support around 161.8% area there is a chance we could see a sharp correction to the upside before further continuation to the downside on this pair.Right now 128.44-48 is a key support level.Above it a move back up into 132.40 and 133.08 is possible. A break and close above T.L resistance from 24th of June might result in continuation higher and A close back under 128.40 could put the pair in some serious pressure and force more decline and post fresh lows in the beginning of July