Technical analysis of GBP/JPY
EUR/USD: price reached the lower 'Window'
The price has reached the lower 'Window', but there's no any reversal pattern so far. It seems like we're going to have a 'Hammer' pattern shortly. If so, there'll be time for an upward correction towards the nearest resistance by the 'Three Methods' pattern (1.1367). The subsequent pullback from this level could lead to a decline.
It's likely that we're going to have a bullish 'Engulfing' pattern soon because there's a pullback from the lower 'Window'. In this case, we should watch the closest resistance at 1.1367 as a possible departure point for another decline towards the next support at 1.1298.
If we see a pullback from the lower 'Window', the pair is likely going to test the nearest Moving Averages...
Bearish Ichimoku Cloud with falling Senkou Span A and rising Senkou Span B; a dead cross of Tenkan-sen and Kijun-sen with falling lines.
The picture on W1 looks very much like the “Head and Shoulders” with the neckline at 3.68 or 3.56.