Tough cookie to judge and ride. Every UJ seasonality this pair steals the show with its outrages volatility. This is a quick analysis to help those in doubt because when I monitor the Forex chat room I can see how often this pair is being discussed and how diverse opinion can be.
In my honest and humble opinion GJ is a Long opportunity because of the process behind the structure of UJ Seasonality. Today we are looking at the opening bell which is signalled by a drop of UJ, UC and CJ, or basically USD, CAD & JPY.
USD traditionally then continues into a downtrend for a couple of weeks, probably 4 or so and CAD and JPY will run repeated shorter cycles of a few hours to a few days until USD appreciates again.
On the charts I attempted to look for other signals on 4 different time frames. It's not easy and I understand the diversity that exists amongst analysts and traders. As often the case, it can be explained in two directions. Looking at the hourly where you find your early signals I see a devaluing JPY and a strengthening GBP, which likely will result into a GJ rally.