GBPJPY Short Trade

PA has been bouncing in quite the daily range but with the recent strong down move, I think it's time for PA to break the range and keep moving down. I believe there will first be a retracement to about the 50% fib level where we have major resistance and the joining of the 200 SMA and 50 SMA. RSI is also oversold so we need a correction up first to be in balance before a move down.