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FxWirePro: GBP/USD bulls remain cautiously optimistic 
EUR/JPY trades a falling channel, and we notice price action was rejected at channel top multiple times on Jan 29th, Feb 1st and 2nd.
- Daily cloud currently spanning 130.6068 to 131.7930 is also weighing on the upside, reinforces downside.
- We have evidenced formation of subsequent hanging man, gravestone Doji on Feb 4th and 5th trades.
- RSI has turned lower after peaking at 65 levels and Daily Stochs have also edged lower into neutral from overbought territory.
- Price action neatly converging with RSI and Stochs and momentum slowing on MACD - support downside.
- Immediate resistance is seen at channel top by 130.05 (5-DMA), while support is located at 128.76 (Feb 8th lows).
Recommendation: Good to short rallies around 129.50, SL: 130.60, TP: 127.75/127.30/127
