Sokow

GBPJPY correction (wave 2) in progress

Short
FX:GBPJPY   British Pound / Japanese Yen
Since the beginning of 2012 you can see a strong up move, which terminated at 189.698.
Wave 5 ended exactly at the 0.382 level and finished the cycle impulse wave I.
Now we are in a correction (zigzag). Target of wave II should be in the area of wave 4 of one lesser degree or between fibo 0.236 and 0.382.

For a closer look at the details of the wave count see following link:
www.directupload.net...926/2hqja3ho_png.htm

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