FX:GBPJPY British Pound/Japanese Yen
GBP/JPY has been in a downtrend for a long time. Technically, things have changed a little bit. First of all, look at the candles that closed above the 26 EMA. A candle or two just closed above EMA 26 does not mean that the pair is ready to buy. I have consulted it with other trend indicators as well. It seems to me that the pair can pull back in upward direction. However, this is not the right time to enter. Please wait for a couple of candles and see how they behave to the current market condition. If everything runs well, I will buy this pair. Stay tuned for further updates.