GBPJPY recently reversed down sharply from the resistance area lying between the pivotal resistance level 144.300 (which has been repeatedly reversing the price from December), upper daily Bollinger Band and the 50% Fibonacci retracement of the previous downward impulse wave (1). The downward reversal from this resistance area stopped the previous intermediate ABC correction (2). Given the predominantly bearish Sterling sentiment seen across the markets today – GBPJPY is expected to fall further in the active impulse wave (3) toward the next support level 142.000 (low of the earlier short-term correction).