GBPJPY / Divergence in Play

This pair has a bullish outlook overall, but it is overextended and overbought a since the start of the month.

ATM we see the pair hitting resistance TrendLine on Daily chart + HUGE divergence on H1 chart which indicates short-term pullback to previously broken resistance which is perfectly aligned with Daily 50 EMA. Moreover, this area needs to be retested in order to confirm bullish trend which gives us nice opportunity for taking this pair down.
Trend Analysis

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