ChaosTrader63
Short

GBP vs JPY 4 Hour Divergance

FX:GBPJPY   British Pound/Japanese Yen
169 1 1
Looking at the GBP vs JPY on the 4 hour time frame we can see first the awesome oscillator , which shows divergence against price on this time frame. Also, we are up against a daily and psychological resistance level & 154.0
I am expecting at least a short term downward move to the Kumo Cloud level at roughly 152.5 and possibly a drop to the daily time frame Kijun @ 151.943 anything below this level would possibly break the last support level of the Kumo and we could see a big drop to an area between the 149 and 148 level. I tend to believe the drop may be short term with ichimoku signals all bearish on the daily time frame and the 4 hour but once again a move below the cloud would change all of that. Have a great and blessed trading week.
Further more we are probably at the top of a 5 wave move which would bring the possibility of an ABC move with the C wave being downwards.
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