First of all, the Yen... it's strong, caution!
After a , the price forges "one close" above the neck (check 4h chart) and start a retrace, now at 61.8%... and entering oversold, searching/waiting for divergence...
Stops should stay below the bottom's, it's a ...
Long the 2618 // Short the & ;
Note that the 2618 trade setup can hit the 200% extension as target, even more, in some cases at 261% extension. The idea is to wait the price to get the ratios/price zone, and then search for options If they exists.
Check this Aud/Nzd as example of 2618 at 200% extension: