GBPJPY Breakdown Analysis

Here is my Outlook on GBPJPY for this coming week. Price have been consolidating around that 62% - 70.5% Fibonacci retracement area, with a big bullish push to close out last week, hunting that liquidity that's been building up from all the buy orders above that consolidation, we might see price start moving towards the downside. COT reports confirming a bigger negative net position for British Pound and the Zen slightly increasing their net positions.