Summary
1. Nikkei at resistance on daily, Yen strength may follow should price not break resistance. Note that price has been unable to break this resistance since the start of December
2. Negative Pound news during the London session saw Pound weakness pulling GBPJPY down to the daily bear target
3. A pull back from current support could see an opportunity to sell at role reversal DM2/ 61.8% fib of London bearish move
4. Note that price has broken through the 21 EMA on H4 and has failed to break through resistance on daily since the start of December with lower highs and lower lows being printed on the hourly chart
5. Bulls may look at current price action and decide to take profit at resistance thereby pushing price lower

GBPJPY Daily

Resistance trend line drawn off Feb '16 and August '16 highs has not been broken since the start of December. Daily stochastic has not yet crossed into the trade zone while H4 and H1 are both oversold.

GBPJPY H4

Trend line drawn off November and December lows was broken during Asia with price coming off WM3 at retest of trend line as resistance.

GBPJPY H1

Price at DM1 and support off 1 Dec swing high. Pull back to 61.8% marks role reversal DM2 which is the bottom of the range price was in during Asia session. Take note of the 21 55 EMA cross to the downside.

Nikkei Daily

Note the resistance at DM3 and trend line resistance off Nov 15 and Dec 15 highs. Price has been unable to break this resistance since the start of December. Stochastic does indicate price is bearish while the 21 and 55 indicate market is bullish. We may see price drop at this resistance. H4 stochastic entering overbought with H1 at 89% overbought.