Right now is making a nice 0.61 fib retracement.
I will buy here with SL and targets shown on chart:
Currency correlation (this pairs depends directly from the GBPUSD and USDJPY )
- GBPUSD- from my point of view is starting a rally or at least will stays sideways but i doubt it
- USDJPY- testing a strong support, so could react and make a small rally before dropping finally. We can see it clearly on USDJPY weekly chart (currency correlation is useful! why not to use it?)
there is a clear impulsive wave and now, it has started its corrective phase to down.
on the lower TF this corrective structure is making 12345 impulsive wave for A of corrective ABC
so i think downside is preferable against upside.