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GBPJPY: Channel Up rejection eyes the 4H MA200.

GBPJPY remains bullish on its 1D technical outlook (RSI = 60.922, MACD = 1.000, ADX = 49.750) but 1H and 4H have turned bearish as the price hit the top of the Channel Up and got rejected. Having closed under the 4H MA50, the pair is now targeting the 0.5 Fibonacci retracement level, which is the level that hit on every correction within this pattern. We aim for at least the 4H MA200 (TP = 213.550).

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