Pairs
The GBP gained a bit of strength against other currencies, even though the Mortgage approval news came out weaker than expected yesterday with 37k against the estimated 37.2k unable to reach the previous of 37.7k. The BOJ meeting minutes had more details on why the central bank is making adjustments. No news significant news are expected from Japan today.
Stochastic
The stochastic is falling to down from overbought on both D1 and H4, meanwhile on H1 is going out of the overbought area which will drag price down for a few candles.
Plan
A double bottom is sported on the H4 and a possible retracement on price action, with moving averages trying to push price up on H1. If price action retrace and test previous resistance as support, a long position will be considered confirming entry at 5min or 15min chats.

GBPJPY.DMADaily

GBPJPY.DMAH4_

GBPJPY.DMAH1_

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