Confirmation for the short has occured from a bearish rising wedge in pund yen. This chart pattern symbolizes a continuation to the downside , which has been confirmed by a break of the bottom support and a retest of the new resistance. This pattern could still exhaust after the price pushed down a bit more, so look on the smaller timeframes to find a good entry point. currently on the 2hr chart price is in a wedge patten and looks like it may break upper resistance and make a shot term buy for lower timeframe traders. Keep an eye on the 150 area to make a re-entry on the long term sell and set stops 10 pips above the next highest resistance level.