GBP/JPY Is About to Test 136.45 Again

GBP/JPY has been moving to the downside and consolidating ever since the pair reached a high at 148.44 and formed a shooting star candlestick on the daily time-frame at that level. Ever since then the pair has reached the support at 136.45 just once but it appears that soon there will likely be another attempt to test this level. The pair has been markedly bearish ever since it bounced off the (MA)89 indicator on the same daily time-frame yet again after forming a doji candlestick at 139.90 and it will likely reach the support at 136.45 in the near future. The question is, what will follow next? GBP/JPY could, of course, form a double bottom at that level and bounce off from it to make another move to the upside, but alternately, a breakout below the support at 136.45 could lead to a further drop in the long-term towards the previous low at 122.63.