GBPJPY has completed ABC corrective wave (Wave 4) and ready to test previous highs. It has completed 50% Fibonacci retracement of the previous swing move.
GBP continues to weaken and JPY strength created a big market gap this morning Asian session open.
Take a look at the GBP pairs and you can see a clear gap down.
It’s important to wait for price to correct and wait for the gap to be filled before it continues to drop.
We will keep an eye on GBPJPY sell once price pulls back to fill the gap before selling.
