GBPJPY - Broken out of channel

FX:GBPJPY   British Pound / Japanese Yen
99 0 1
Pair has broken below the ascending consolidation channel on the 4hr chart and has retested the lower channel support as resistance.

Pair is in a downtrend and has just rejected the daily 21EMA - usually a good signal for price to move lower. Seem's a bit quiet at the moment.

I've set an order entry below the recent lows @126.72
SL @ 127.84
Comment: Updated order. I want to see a break of the wedge before going short. But I still think a move is imminent. Everything is a bit quiet prior to FOMC.

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