On the intraday chart of GBPJPY,we are looking at a possible three wave structure, labeled as A-B-C, thatstarted from recent highs at 164.098 region, and is now trading midway thorughit's completion in wave B. That said wave B could be near finished, as price isunfolding near 61.8 fibo. ratio measured from wave A highs. The ideal turningpoint into lower levels would then be around 161.88-162.40 area.
GBPJPY, 1H
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