Today in forex trading the GBP/JPY had a sell signal on The Forex Heatmap®. The British Pound (GBP) was weak and the Japanese Yen was mostly strong. Pairs like the GBP/JPY and GBP/USD sold off hard on the GBP weakness. The GBP/USD is not trending down so this is a short term trade and we would consider exiting all lots trades. The GBP/JPY is in an overall uptrend, so once again this would be a short term sell against the trend, it will eventually reverse back up. Other pairs like the EUR/JPY and CHF/JPY sold off as the JPY was strong on all pairs. The trading signals you see below are from The Forex Heatmap®, which is a live visual map of the forex market.
GBP/JPY Trading Signal 9-19-2014