Looking at GBPJPY the daily price bounced off a strong support area, retested to the 62% Fibonacci and then started moving back to the area off support. will we see price breaking that support and continue with a bearish run, or will we see that support hold and the pound start with a bullish run? COT reports shows the Pound on a extreme low net positions and the Yen slowly getting stronger net positions. With the extreme low net position of the Pound we might see the swing in the Pound to get stronger again, but lets keep an eye on the lower time frames to see what will happen on that strong area of support.