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GBPJPY 8 May 2023

GBPJPY 8 May 2023 on the H1 timeframe. It can be seen that the pair has just broken the Kumo on the Ichimoku indicator, and bounced back after touching S1. when referring to the Stochastic and RSI indicators, it can be seen that the pair is in a bearish trend and is below the 50 level. Therefore, go-short is still an option for scalpers. But if the pair is able to reverse after being oversold, go-long is an option. Stay alert to market volatility and trade with your own risk.

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