has now bounced off of support in the 138.00 zone on the daily time frame and has clearly broken the recent down trend. We are now looking for a harmonic
retracement in the neighborhood of the 61.8 fib. Our long entry kill zone will be between the 50% and the 61.8% fib retracement levels. Price has established a perfect 45 degree uptrend angle ( Gann
) so we are looking for price to return to the 147.00 - 148.00 price zone where we will be looking to take profit and wait for the next clear setup. Remember that this is just our view of the market conditions for the Pound/Yen
pair and you should always trade with caution.
!!!Good Trading All!!!