FX.co ★ ckerluke | GBP/JPY

Hello. GBP/JPY has slightly moved to the north today, but for now, the rise can only be considered as a correctional one. Although there is still a possibility of a sideways movement, the pair has currently bounced off its upper boundary, so there is a chance to walk down to the lower one, around 212.40-45 in the short term perspective. On the hourly chart, the indicators do not show anything specific, the sell signal was canceled, and the buy signal has not yet formed. At the same time, the Bollinger Band hints at a potential movement within its bands, as the pair bounced off the upper band, suggesting a possible walk down to the lower band, which aligns with the aforementioned target. On the four-hour chart, the indicators still point south, so I still consider selling as a more priority option for myself. However, for now, only a local decline is visible, it's too early to talk about the medium-term perspective.