GBPJPY – Sell to 125.729
British Pound/Japanese Yen FX:GBPJPY
The downside impulsive moves from July 26 started a 5 wave sequence.
Currently tracking a minor 5 wave sequence to culminate the 5th wave of the daily wave movement.
Selling until 125.729, and placing a buy order.
With brexit, there’s a lot of uncertainty and risk, so this buy order will be a long shot buy.
If there is upside movement, then i believe that this is the low.
I’m going to hold it with no target in the near future because if brexit happens with a deal, we can see a substantial move higher.
If there is no deal, then of course we’ll see this further to the downside creating new all time lows.