Hello traders. GBP/JPY. Good day. The pound/yen is currently making new attempts to develop a bearish sentiment, so I am considering the likelihood of further decline. On the hourly chart, indicators support further downward movement, the pair tested the middle Bollinger Band from below and seems to be starting to bounce back. It is currently at the point of triggering the next sell signal intraday, and if things go well for the bears, there is a possibility of opening short positions with an approximate target of 208.70-80 in the short term. On the four-hour chart, indicators are still in the process of forming a sell signal, but at the same time, the pair has entered the bearish zone of the Bollinger Band channel, where it is currently trying to consolidate. If the bears succeed here as well, we will see a downward movement in the medium term. However, it is too early to talk about this yet, so I am only considering the potential downward movement in the local perspective.
