2 Attachment(s) On Wednesday of last week, we looked in a possible best forming to the GBP JPY 4-hour chart. More particularly, the increasing wedge hinted in the concept of a reversal and advised exhaustion from customers. Less than a day later we had our split of wedge support. As mentioned in the May 10th commentary, the first market was 145.70. The pair bounced from this location between Monday and Friday, albeit briefly, as it is possible to see in the chart below. The following support level mentioned in last Wednesday's commentary was 143.70. To-day this region was attained throughout yesterday's somewhat remarkable flight to security and is supporting so far. From here the game-plan is quite easy. A 4-hour near below 143.70 would expose the next important level at 141.85. While it might not seem to be really influential lately, the 141.85 region was a crucial aspect between 2010 and 2013. It is also the 50% retracement of the current 20 17 range from 135.58 to 148.10.