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AbundantChelly

GBP/JPY Possible bounce off resistance

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
AbundantChelly  
OANDA:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY Supply Zone bounceback
3
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trendanalysis chartpattern indicator gbpjpy supplyzone bounceback
Price is pulling up to a strong resistance level. History proves this level is pretty strong. Back in late october price reached 158.218 & than dropped and created a descending channel to support at 148.982. Now here we are again, will price repeat itself and bounce to the downside and continue in this ranging market between 158.218-148.982 or will it break? either way, my confluences on entry will be if price shows me weakness as it approaches supply zone, consolidation, bearish candles & crossing from the 55EMA and 21EMA.
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