Having reached the target on the short position I think that it's time to turn it again into long. We got a complete 38 % retracement of today's rise and are very close to the 20 periode MA. So even if we would retrace the complete 50 % there is a bigger chance of another rise now.
The decline of roday's rise has beeen retraced now and we may continue it.
The trend is still running and we didn't manage to retrace the decline so far. I take it as a sign of continuing buying pressure on the yen.
It's a top here since October 2017! Doesn't look like a breakout now. At least I am expecting another decline within the range.
We are on the way to retest the previous high. On this way we have made a little retracement already.
We could no exceed the Christmas Eve's high now after Christmas. I am taking it as sign of continuing yen buying.
The pound has corrected the current downtrend and may continue its way down now.
The little rise since yesterday has been corrected and the pound may now rise further.
The movement is running and there is still some way ahead.
I know that the pattern is not completed yet but I suppose that the engulfing will develope further this week as we have retraced the former decline from 24448 and strted another drop afterwards. This should result in a further fall finally.
...it fell like a Stone and has not reched the bottom yet as it seems.
Finally we managed to leave the triangle t the bottom. Let's se whether it is valis toend the sideward range.
The pound could not retrace 61.8%. I.e. a full retracement failed. Thus the decline may continue now.
The current retracement is an opportunity to buy some. The past days are indicating a strong underlying trend.
An Engulfing pattern is building including a new low. I expect a further fall now.
The body is a bit large but I consider it as valid as I am expecting a certain correction of the December sale.
Friday's decline has been retraced by 50 % now and may continue.
The trend is 1 month old and intact. We have just retraced it.