GBPJPY Price Action Analysis - possible bearish reversal with breakdown

W1 price is above 200 period SMA (200 SMA) and above 100 period SMA (100-SMA) for the primary bullish market condition with secondary ranging between Fibo resistance level at 125.87 and Fibo support level at 180.38:

• The price is floating within 23.6% Fibo resistance level at 183.99 and Fibo support level at 180.37.
  
• Descending triangle pattern was formed by the price to be crossed for possible bearish reversal with breakdown.
• If the price breaks Fibo support level at 180.37 so the price will be started to be reversed to the primary bearish market condition, otherwise - ranging.
  

Trend:

• W1 - ranging bullish
• MN1 - ranging bullish