From the bottom of the trend line there was a impulse and its looking like a Zig Zag correction. The .618 mark is 139.53 and the 50% mark is 193.79.
Looking to long around that mark. It came close to hitting the 50% mark so lets see if it has any more pull to the .618
If you are not already in then look for a break in the trend line.
There was a double top where price was rejected twice and now making its journey south.
If you are not already in from the top, look to go short if it breaks the trend line.
GBPJPY is doing the same.
If you are not already in, now is a good time to short. Look to short on the next rally in a smaller time frame. Broke the trend now were looking to head down to 0.73 mark. This is a major trend line so if it breaks that, were looking to retesting the 0.60 but that's a long way off!
Wave A complete and Wave B almost complete. It should hit the 618 fib at around 145.50 mark.
It looks like a good idea to go short if you're not already in. first target: 143.3 and if it pushes that it will most likely hit 142.00 which are .50 and .618 fibs. Maybe even lower.
Long at the end of D wave.
Fibs retrace of wave a to wave b (0.786) matches fib extensions of wave d ending at (1.272)
This trade is a short trade as I don't think it will break previous structure.
Enter long: 1.435
SL: Below 1.432