GBPJPY in Sinking Sand... for May 2018 D1

This pair has been on a bull-run since the beginning of March 2018. It seems to have run its course. I noticed that there seems to be what we call a bear flag on the D1 timeframe which is a continuation pattern for whatever trend price has been doing currently. So, before the uptrend started in March, price had been falling since the previous month, February.

Also, on my stochastic indicator, price has been overbought for quite some time..and based on a possible head and shoulder pattern, it looks like it's time for gravity to take effect and bring GBPJPY down to a demand zone or at least the the neckline before reaching further to the downside towards the previous strong demand zone. Overall, for the longer term analysis, price appears to be continuing the drop towards the demand zone which is around the 147.500 area, but time will definitely tell. Based on chart patterns, indicators, being mindful of the trend and supply and demand zones, I do believe that in the long run, GBPJPY will have an ongoing collapse.

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