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Stalking GBP/JPY as it Retreats to the Crossroad

GBP/JPY is challenging this week's high, as well as a falling resistance. Will February's rally push through the January decline? The 4H chart shows the GBP/JPY at the crossroad.

(GBP/JPY 4H chart: click for full size)

If the market can hold above this week's. A break below 170 reflects a market in consolidation.
S20-R40:
In the 4H chart, If the Stochastic comes back near 20 and RSI back near 40, see if the market bounces. If a rally does follow what I call the S20-R40 combination. We could very well be seeing further bullish development. 
Another sign of bullish continuation could be the ability of the RSI to come back above 60.
If the market has already turned bullish, we should probably see the S20-R40 at work in the 1H chart.

(GBP/JPY 1H chart: click for full size)
As we wind down the trading week, we might not see this scenario resolve, or fail. We might need to wait and observe the price action at the start of the next week.