GBPJPY UPDATE ANALYSIS (POUNDYEN)

Hello traders, I hope you're doing well and keeping warm in this cold weather. However in the markets, the charts are heated up with GBPJPY having dropped 420 pips to 160.760 which is the previous low and minor demand on H1 & H4 at 161.862 & 160.770, filling the minor range from the major supply on the daily chart at 168.589 & 167.699  to the minor demand. Price rallied from the minor demand back to the bearish BOS and supply level at 164.903 & 163.895, retesting supply at 163.895. Price tapped the level during Asian session, accumulating more sell orders and dropping by a constant push away from supply confirming more of the bearish sentiment. Price activated my pending scale in sell limit orders at 163.895 with SL at 164.360 during Asian session and gained momentum during London session. Still waiting on price to drop further to the anticipated target ahead of the NFP news release during NYSE.