GBPJPY H4 SHORT SETUP IDEA, 02 MAY 2022

This chart looks to have printed a head and shoulder pattern. Price has found resistance @ 163.793, if this resistance holds than we could see a move to the downside and a print of the next lower low. Immediate support on this chart is eyed @ 159.746, and a break of that support area to the downside would probably give bears more conviction to sell. Seeing that price is at resistance that means bears have the opportunity to go short and bulls will have to wait for a setup to go long.