GBPJPY surprised the market on Boris Johnson landslide victory. Now Market is expecting that Brexit bill will go through the parliament smoothly and we will have brexit before 31 January 2020. If so then GBPJPY will stay strong until next uncertainty.
Price is in correction and that correction can get bigger all the way back at the bottom of the impulse. If dont then only buy if we see strong breakup otherwise wait for the correction to get bigger and look for short term sell on strong breakdown and then look for buy at bottom.
If price break below the impulse then it will invalidate the buy setup.