GBPJPY - Intraday - We look to Sell at 153.62 (stop at 153.92)
Broken out of the channel formation to the downside. Price action continued to range between key support & resistance (152.80 - 153.60) although we expect a break of this range soon. The bias is to break to the downside. 20 4hour EMA is at 153.68. 50 1day EMA is at 153.83. We look for a temporary move higher. There is no clear indication that the downward move is coming to an end.