This might be the time that GBPJPY starts into a Sell trend. Let's look at past price action. Each vertical line is color coded to match with the other chart. 1h on top, 4h on bottom.
You can see the turn around in both charts in the past. The green line was a bit of an iffy call (in retrospect) but at the very least that one was good for 100 pips.
Pay attention to the 1h here. We can see that the lagging indicator has broken through the cloud, a cloud cross over has happened, lagging has cleared previous price and price is below the cloud.
We're a few days out from getting any sort of confirmation on the 4h chart. However, if we get that this week, we could be in for a nice sell on this pair. It's a wait and see game at this point.
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