looking at fibos and waves it looks great ...
... therefor down/sell/short!
Now the bar of 102.20 was broken The next target of usdjpy is 102.10 it go under that . the next will be 101.50
Sooo, we have a very nice breakout on FX:EURGBP after a long term retests of the structure level @0.7240. As we see price has broken the structure and it is more likely to retest it and then fall down. And there is a good opportunity to sell at this level. I assume price will reverse somewhere in red zone and our targets will be somewhere in 0.7176-0.7146. So...
The price is going into the peak of a flag formation with the 101.180 resistance and the lower maximum points. I consideration of MACD and BB there is lots of pressure towards this resistance line and the potential to break it for going down to 97.000 and maybe towards 94.000.