FX:GBPJPY British Pound/Japanese Yen
GBPJPY is in a correction which ended near the 158 level. It is now beginning on the next leg down as part of a bigger corrective structure. There are plenty of short term trading opportunities as shown in the chart (they are rough represenations only!) . The big trade is ultimately to the downside so keep that in mind if you are a counter trend-type of trader. I do not have set targets on any of the trades as corrective structures do not always behave exactly as we anticipate.