GBPJPY Possible Short Entry
As seen on the chart posted the GBPJPY is heading towards a tight consolidation, shown by the corridor of the top and bottom trendlines. There is strong resistance at 160.311 to 160.330. The stochastic is also overbought and has stayed that way for a while. What I'm looking for is correction or a break downwards, but not a major one, given the resistance zone has been tested multiple times and may thus be broken. On these analysis I am expecting a short at the level stated, but market will gradually move upwards.
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