GBP/JPY hits the channel resistance, possibility of a drop
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GBP/JPY has rallied strongly yesterday. However, the bulls are taking a breather now. Looking at the 4 hour chart, you can see that price has reached the channel resistance.
If this bearish price action persists, selling GBP/JPY@153.75-154.25 with SL above 154.70 and TP at 150.50 would be a possible sell set-up.