FX:GBPJPY   British Pound/Japanese Yen
137 0 2
Here we have had a retracement to the 61.8% level. Since then we can see price has been moving in the downwards direction. We have seen a fakeout of the bottom trend line which gives us an indication that price will break. Once we have seen a break and retest we will enter short with our first target being 0% and then -27.2% which also alines with daily demand. IF we see a break of this level then we expect price to go towards the -61.8% level to target 3 which also has a daily demand just below.
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