FX.co ★ ckerluke | GBP/JPY

Currently, the GBP/JPY currency pair on the hourly timeframe is showing a downtrend, confirmed by the red color of the trend indicator. Therefore, today I plan to open sell trades. I expect the price to pull back to the level of 198.95, where I will enter the market. Around the 198.19 mark, I plan to take profit on the first part of the trade and move it to breakeven, while I will close the remaining part based on a signal opposite to the current trend.