I am just looking at price and its movements. This pair looks like it hit 61.8% several times and was rejected. I see it rising to the level of 2.20-2.30 levels now to retrace the price after that huge fall.
My long position for gbpjpy is dependent on what is to come with the brexit situation. If MAY leaves we could see gbp get destroyed briefly but i still think we will touch 154/158/160 before plummeting. GBPJPY looks good to go higher- completion of 5th wave. Now time to go up 5 waves.
Right now usd looks to regain some strength... If it does not the trade will be invalid. We need 1.0685 to break. If so it will be a good indication we are falling. If we do not get that eu will rise heavy to 1.0785/1.09.
had fallen for days... We will attempt a buy because we expect bulls to take over usd. If not usdjpy 0.28% will free fall after this area. We like the risk to reward. We expect this trade to take effect in the next 4-5 hours.