Update Going into Tokyo

GBPUSD is finding a definate bottom just above the 1.6250 support. I think a break down will find heavy support near 1.6300, and a move up will have room to run, at least up to yesterday's high of 1.6467.

The GBPJPY is following the Cable and making a bottom, following support near 155.40. Same scenario here. The Rise in the USDJPY has kept this from sinking lower. We could see a dramatic fall if the USDJPY takes a tumble downward, especially it the Cable follows suit. Would be a great setup for a a short on the GBPJPY.