paweld

Waiting for cycle end

FX:GBPJPY   British Pound/Japanese Yen
220 0 0
We are presently watching end of intermediate cycle - 5 waves impulse has possibly reaching now the bottom of (4)th wave - price has reached range of (2) nd             wave and 161,8% of A/1 wave. I am expecting here to start wave (5) to reach new highs next week.

Next scenario is after breaking out current (4)th wave bottom level (155.619) to reach (1) st             wave top, 38,2% ret. of higher frame cycle ((1)) - ((2)) - last levels to end ((4th)) wave.

Last scenario is after braking out 200% or A wave (154.01) that will show us new short term 5 wave downtrend (A = 1, B=2, C=3), which could decrease price to new lows (((2)) bottom).
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