GBPJPY Channel Short

GBPJPY Daily

On Daily charts, GBPJPY is hitting a ascending channel's upper boundary. 

This channel has restrained price action since June-12. From past few session pair is trading near to upper boundary but is not able to break above it. Looks like in consolidation phase. 


I expect this channel to hold and price to retrace to mid/lower part of the channel.

I went short at current market price at 132.48 for a possible move towards mid or lower part of the channel.