GBPJPY - Over-Bought Zone 📉

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 GBPJPY has been overall bullish, trading within the rising channel in blue.

At present, GBPJPY is approaching the upper bound of the channel acting as an over-bought zone.

Moreover, it is retesting a strong round number $200.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the green zone and upper blue trendline.

📚 As per my trading style:
As #GBPJPY approaches the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich