Dear traders, many GBPJPY Traders are waiting for GBP/JPY to decline. However, GBP/JPY is on a relentless bullish pursuit.
That being said, if you look at the daily candles in GBP/JPY, the last 10-12 daily candles indicates exhaustion which means when price finally reverses, the fall would be pretty quick.
So, in case you are holding sells or have sold at 175.25, you can expect GBP/JPY to reach 168 when price reverses.
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GBPJPY does not show any signs of stopping. So sell only when bearish price action forms. A couple of red 4H candlesticks is needed before selling