Short term trade taken at 61.8 fib level possible 70 pips up
Long term analysis on USD JPY to help predict moves off the lower timeframes, it looks like were building the B wave to get a large move up for wave C. The large move up will require good fundamentals to come out of the USA so may take a while. When you see the economy starting to improve, a deal being made with China and maybe interest rates starting to rise...
Looks like a 5 wave structure complete in A wave up, will wait for a correction B wave and consider entry up. A reversal up from this area is also expected from higher timeframe analysis lets see how it plays out.
Possible short set up for this pair to hit fib level on higher timeframe for larger move up please see my daily chart analysis. may need some good Brexit news to get the up move however. Will be looking for a nice double top or head n shoulders pattern tomorrow to take the trade down.
Looking for an entry down tomorrow on gbpusd, will take entry on 15 min chart looking for nice double top in London or NY session open.
Waiting for this to hit 50% retracement for possible up move, stops below 61.8 to account for overshoot.
Possible 5 wave pattern forming on USDJPY has broke out of channel entry taken on 38.2 to 50 retracement of the third wave predicting it to got to the 1.618 retracement level.
Looking for equal measured move following impulse on daily chart, if it breaks out of this flag will consider an entry up.
Possible Y leg up, has made an impulse on lower timeframe and corrected to 61.8 level.
Long term prediction following big double bottom.
My thoughts on gbpusd, possible some more downside to a fib level before the reversal to the up.
Waiting for NY session pullback to give M pattern on 15 min chart for continuation down 40 to 50 pips