GBPJPY had a quick run up and past the 38.2%, with no pull back to the 50%. This is the 3rd wave, so i'm expecting it to hit the 23.6% with a faint touch, then head back down to the 50% for wave 4. Looking for a higher level to touch channel lines for wave 5, which is also the 61.8% of the large down move. Ideally looking for the 78.6% as a target, but will keep watch of the level right above it at the 23.6% of the large down move. Long term move is up, so looking for a long entry from there.
Comment
⋅
First long target hit. Looking for the short target to entry for the long.