Technical analysis of the GBP/JPY pair :

#Technical_analysis of the #GBP/#JPY pair : 

reveals that it has been moving in an uptrend for a while until it reached a peak at the end of April, from which it experienced a strong pullback. Additionally, on the technical indicators, we observe that the pair has started to lose upward momentum and is entering overbought territory.

The RSI indicator on the 4-hour timeframe has surpassed the 70 level and has begun to decline, successfully confirming this observation. Moreover, the OSMA indicator on the same timeframe is showing the beginning of a trend reversal, further supporting the analysis team’s view at Forex Trend Time.

On the daily timeframe, we can see that the RSI indicator has come very close to the 70 level before turning downwards. A significant downward move may be imminent, presenting good opportunities for profit in the upcoming period. It is important to maintain a good capital management strategy and a moderate risk percentage while #trading.