FX:GBPJPY   British Pound / Japanese Yen
115 3 5
One of the pairs on my radar this week. A buy is triggered if price action breaks out of the descending wedge AND consolidates. I'm anticipating a simple flat corrective structure to ultimately form. Good luck to all who trades this highly volatile but lucrative pair.
Finally broke out decisively. I'm anticipating an ABC running flat corrective back toward the broken trendline before the massive take off. As of now this is unlikely to move until next week if not tomorrow during London or NY. Don't miss this one.
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Still a buy setup. Price is crawling down in a small channel that could be the end of the move down. Watch the 886 fib area for possible reversal.
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Out of the wedge but looks likely to crawl down to the 786 fib. Not a bad place look for a buy if it gets there.
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