I have identified a significant level where price bounced off the bottom referenced A 134.00. I used this as the starting reference of a geometrical analysis that is showing a strong Fibonacci sequence. Point B of the sequence was 2014 yearly high of 149.72. And point C was the pullback that only retraced just over 23.6% 144.92. This was a weak pullback so I am expecting this wave to go down further and test the 38.2% outlined in blue.
My D extension targets are significant Fibonacci ratios that are consistent in historical data to be strong targets zones: Target 1 150.91 Target 2 152.76
As I said I am expecting a stronger pullback with a possibility of testing the and 200SMA. However Yen weakness is driving this pair .
Lets see what unfolds. Feedback is welcomed