FX.co ★ ckerluke | GBP/JPY

Hello traders. GBP/JPY. Good day. Pound/yen continues its northern march today, with the pair hitting a new local high again. Bears are not eager to take the initiative, so selling remains in question for now. Technically, on the hourly chart, indicators still point north, but basement indicators with bearish divergences suggest a possible reversal. Therefore, in the short-term perspective, there is a chance to walk around 214.15-20. However, it is unlikely worth opening short positions based on this assumption, it is better to wait for more confirmation from the technical side. On the 4-hour chart, indicators fully support further movement to the north, and the Bollinger Band is still expanding, indicating a continuation of the current upward impulse. However, one of the basement indicators no longer supports the bullish sentiment, and the MACD is trying to show a bearish divergence. So, I do not exclude the possibility of a move to the south.