FX:GBPJPY   British Pound/Japanese Yen
74 0 1
This pair, in my eyes has a lot of IF/THEN situations.

I'm thinking short but first I would like to see a few things happen.

Overall this has been in a smooth up trend but i'm seeing on the daily, some new LOWER HIGH and market keeps bouncing off that 176.350 zone.

I think IF a candle can break that 176.350 and close below. I would like to see the market drop to 172.858 to make a new LOWER LOW. ( this is were i placed my 23%level using fib)

After that we could get a small test AGAIN at that 176.350 level but I would like to see this pair drop to 170.068
then for the LONG future hit 165.099

Just a waiting game. If this doesn't play out i'll be back to look at LONG opportunists
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