GBPJPY Weekly - Great downside potential

Due to the global turmoil GBPJPY broke the 4Y bull (blue) trendline. Also broke below the 2013 red trendline, pushed lower to the 2014 low and backtested the cross of the two bull trendlines. The brake and the backtest seem to be very orderly.

If risk-aversion aimplifies then GBPJPY is very likely to break below the key support level @ 163.70.