GBPJPY had a very strong short-term downtrend and sellers were taking a break, celebrating the very good profit they made between the end of last week and the beginning of this trading week. The price entered a tight up-channel and right now sellers are attempting to break this chart pattern, pushing the price down, resuming the downtrend. This is a very clear situation that we have studied several times in the course about swing trading, so short position trading the breakout and stop loss above last highs formed by the price.