GBP/JPY currency pair analysis

A resistance level of 166.28 held the buyers back. The ascending truncated wave structure has ended with the breach of the inclined channel. The Awesome Oscillator indicator shows bearish divergence, and the Stochastic Oscillator indicator signals overbought.

Trading idea:

Sell on a breakout of 165.13.

Stop Loss over resistance level: 166.28.

Target levels: 164.17; 162.50.