I received from California a few weeks ago GBPJPY suggestion for long side but that road is pretty much gone now (with very nice run). It´s has so major size pattern in here that thought to share. I suppose this is A wave diagonal. Modern EW should approve it. Final target as 137-138 sounds reasonable. 134 also possible. GBP-USD does not look so different either, you could put this kind of chart to the log channel and to see where actual breake happens if it comes – I prefer a wedge form approach. This baby start to looks really skew in here, diagonal is closing…
Needed a change from Eur-Usd, which I believe is on the way to another triple correction now also because as far as I can see Eur-Usd triangle by EW – it´s bearish.
Btw. UsaCad hit 38.2% bottom today at 1.63 – not far away from my 1.61 physical price and reversed.Will wave GBP-JPY for a while.
