1) The wave behavior, show us a retracement of 61.8% from previous downtrend movement in the 240 chart.
2) In the same way, we can see the break up of a support area in the price area of 169.506.
3) So, the 61.8% retracement area of the last downtrend movement, is in the same support area that had been broken off.
This area, would be the SHORT ON GBPJPY.
2) In the same way, we can see the break up of a support area in the price area of 169.506.
3) So, the 61.8% retracement area of the last downtrend movement, is in the same support area that had been broken off.
This area, would be the SHORT ON GBPJPY.