GBPJPY Approaching the most optimal sell level

This is an update to our GBPJPY analysis at the start of the month:


As you see the price followed exceptionally well the Symmetrical trade suggested and broke above both the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line). As it is now approaching the Symmetrical Resistance Zone, while the 1D RSI is near the 70.00 Overbought barrier, we are turning bearish on GBPJPY again. Our target is first the dashed Higher Lows trend-line and if broken, the Symmetrical Support level.


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