The Pound Japanese Yen.

Good afternoon Dynamic Traders,

Yesterdays chart did break north in conjunction with the false bar for a possible 130 pips, so well done if you got some of these, but now has retraced after rising to the figure and higher resistance.

Todays chart is again of the smaller timeframe because as mentioned last week I shall be without power tomorrow and therefore only want to trade intra-day if possible so I can manage my positions, and as such there will be no posts tomorrow.

The chart today is of the GBPJPY on the 4 hour timescale.

AdvancedGet is currently showing a possible wave4 complete and a wave 5 in progress, with XTL showing strength to the downside.
Also AdvancedGet Stochastics is heading down with the last false bar in the OS area.
As far as patterns are concerned, there is a possible H&S forming with previous resistance just below at the figure.

Other confluences are available for you to find, and so as always please ensure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Have fun.

Clayton Farnworth.