The GBP/JPY is trading at the crossroads and you will see why. First of all, in the 4H chart, we can see a market that is consolidating after a bearish run. After making a low at 175.77 in mid-January, GBP/JPY rallied only to be rejected at 180.27. A second attempt to break below 175.77 failed, forming a possible double bottom. The momentum according to the RSI is still slightly bearish, and price action also has a slight bearish bias despite the failed attempt to break 175.77. In the 4H chart, we can say that the market is bearish-neutral, with some emphasis on the bearish component since the prevailing trend here ... (full story)