FX.co ★ ckerluke | GBP/JPY

Hi everyone. The price of the GBP/JPY currency pair on the H1 timeframe is moving in waves. Each time the price went up, reached the 200 EMA moving average line, reversed and started to decline. And now the price is between the moving average lines. This is not the best place to open new trades. It kind of looks like an uptrend, but at the same time it could be the beginning of a new downward wave. The platform’s technical analysis indicator is suggesting selling.