DislikedGood Morning!
I was watching this thread...I went short at 207.54.
Why? The MACD was on downtrend even though the GBP/JPY was inching up.
The bottom of this is at 205.10 which is off the 62 EMA. If it stays above that, it should bounce back up....if it closes below that on the 60 minute...GBP/JPY will go down to 204.25Ignored
I now have a stop entry for the rebound if it happens, if it moves further south then I will look at other entry options.
Good luck