GBPJPY currency pair recently reversed down from the key resistance level 168.000, intersecting with the upper daily Bollinger Band and the resistance trendline of the wide up channel from last year. The downward reversal from the resistance level 168.000 stopped the earlier impulse waves 5 and (C). Given the strength of the resistance level 168.000, strongly bearish sterling sentiment coupled with moderate yen optimism, GBPJPY currency pair can be expected to fall toward the next support level 160.000 (low of the previous correction 4).