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GBP/JPY – Double top on hourly chart

FX:GBPJPY   British Pound/Japanese Yen
Short-term daily moving averages – 5-DMA & 10-DMA are still sloping downwards. Accordingly, the cross has failed twice 132.40 at a time when the hourly MACD has turned bearish while the price has formed bearish divergence with hourly RSI .

This suggests the pair could test double top neckline level of 131.63 and may actually breach the same and retreat to 131.00 levels.

On the higher side, a day end close above 132.40 would open doors for 134.00 levels.
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