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IkanBilisCapital

Wave 4 incoming for GBPJPY?

Short
British Pound / Japanese Yen (FX:GBPJPY)  
IkanBilisCapital  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators GBPJPY gbpjpyshort gbpjpylong gbjpyshort
2
0
trendanalysis chartpattern indicator gbpjpy gbpjpyshort gbpjpylong gbjpyshort
I think we will start to see some messy structure at these levels for the pound yen. This may be a wave 4 correction that can be deeper and last longer than the previous consolidation range.

BULL CASE
Some consolidation is expected to happen and this could push price up to around 153.

BEAR CASE
Price could dump farther down to 150 without much of a consolidation.
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