Since late November, the GBPJPY has been working hard to clear the air just under 133. This level formed a triple top about a year ago and is the 12mos highs for the pair. The current price action is showing the 3 signs of a likely breakout.
If the bears think this level will fail, then they clearly have their line in the sand and can look for an intraday price action signal to short. But if the bulls feel more upside will be found, then look for a breakout retest setup above 133.
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