Hello traders. GBP/JPY. Pound/yen ended the current week with a bearish candle, but it is clearly too early to talk about a reversal at the moment. Although in the short term, there is a possibility of a slight move to the south. On the hourly chart, indicators showed a sell signal on Friday, but it has not been activated, just like several previous signals that were formed and canceled without activation, not to mention follow-through. This behavior is typical for a sideways market, which is what we are currently observing on the chart. On the four-hour chart, indicators are still pointing in different directions, not showing anything specific, but the pair closed in the bearish zone of the Bollinger Bands channel. If there is a confirmation here at the beginning of next week, then we can consider a new bearish wave. But for now, I am only looking south in the short term, with the first target at 210.00-10, and then we will see.
