Trend is bullish in four hours time frame. Vital support is present at 136.43 price level. In last few trading days, price has printed a possible Bearish a, b and c Zig Zag Elliott Wave pattern. As expected, Bearish Wave B has completed. I, now expect price action to print Bullish Impulse Wave C leg in coming trading days.
A good idea is to look for a possible Buy trading chance to ride and trade Bullish Wave C leg. However; if market drops below 136.43 support level then up trend is going to fail. In such case, I would prefer to stay out of the market and re-analyze the price action in GBP/JPY currency pair.