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GBPJPY Up Move Rejected - Consolidation Channel Entered. SELL

Short
British Pound / Japanese Yen (FX:GBPJPY)  
trendtrader  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns GBPJPY gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpysell gbpjpyidea gbpjpytrade gbpjpysignal
6
1
trendanalysis chartpattern gbpjpy gbpjpyshort gbpjpyanalysis gbpjpyprediction gbpjpyforecast gbpjpysell gbpjpyidea gbpjpytrade gbpjpysignal
GBPJPY showed a sudden, strong upward move some hours back, but the upward move seems to have lost strength around the current levels of 132.950, which is a strong resistance level for the 1H chart. I see this pair now entering a consolidation channel, hovering between 132.950 and 132.750 levels. I would go short on this pair for the near term, placing a take profit level around the 132.750 levels and wait for a clear trend to show.
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