EverythingForex

Update: GBPJPY - Still Falling! But Slowing. Corrected Count.

FX:GBPJPY   British Pound/Japanese Yen
601 0 14
Sterling weakness combined with Yen strength driving this downtrend. Powerful wave ( iii             ) that has exceeded even my expectations has caused me to readjust my wave count yet again. Here is the short term wave count on this pair that I now am operating from.

Two POTENTIAL crabs are in play here. Crab #1 near to completion and is right near the 2.618 extension of the wave (i). Wave ( iii             ) should end there.

The crab #2 should mark the end of the larger wave ( III             ) which is also near to the 2. 628             extension of the larger wave (I).

If you see a fractal relationship here, you would be correct.

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