Hi traders!
The current market conditions suggest a potential reversal in the GBP/JPY exchange rate, pointing towards a local downward trend. we are adopting a cautious approach and anticipating a temporary retracement in price before initiating any trades. This strategic decision is in line with our analysis of a channel up pattern and downwards crossing the 100 period WMA on the 60 H1 timeframe, which signals a favorable Short trading opportunity.
Have a great trading week ahead!
The current market conditions suggest a potential reversal in the GBP/JPY exchange rate, pointing towards a local downward trend. we are adopting a cautious approach and anticipating a temporary retracement in price before initiating any trades. This strategic decision is in line with our analysis of a channel up pattern and downwards crossing the 100 period WMA on the 60 H1 timeframe, which signals a favorable Short trading opportunity.
Have a great trading week ahead!