GBPJPY Cypher

Potential set up, Nice structure around the sell zone and stops. As you can see if you look back it took a pretty serious move to the downside to break structure around the 147 mark. Perhaps then if that level is a good level of resistance now it will take a significant move to rebreak that price perhaps adding credibility to a bearish trade. RSI is neutral but may move towards oversold on completion EMA for the time being indicating a bearish trend although it will cross over slightly on completion.

Good luck