After a 3 wave impulsive structure (on the 4hr) downwards starting from 200.570, the market has corrected in a seemingly easy to read corrective structure for another impulsive move down, This move down has the potential to be massive 500pips at least.
TP #1 190.475 (23% below the B wave)
TP #2 188.910 (61% below the B wave)
TP#3 186.400 ( would complete the third wave of the impulse move on the weekly)
GBPJPY is not officially in a bear market until the B wave is broken (191.300)
TP #1 190.475 (23% below the B wave)
TP #2 188.910 (61% below the B wave)
TP#3 186.400 ( would complete the third wave of the impulse move on the weekly)
GBPJPY is not officially in a bear market until the B wave is broken (191.300)