An overview of the
currency markets by 
Hello.
Let’s take a look at a shorter term chart - GBP/JPY.
We’re about halfway through the Asian session and about 4 hours before the opening of the European markets.
We saw the currency pair hit a potential turning low point on Thursday. From there, we have a nice movement up. You can see our count of the retracement.
The bears seem to have short-term control of the GBP/JPY. We’ll potentially see a retracement back down (completing Wave 4) and then a Wave 5 movement back up.
Remember, this is a shorter term trade so be sure to keep your stop losses tight and apply your money management. This pair can move very quickly in a short period of time so check your announcements.
For those of you in the US, we hope you have a nice (and relaxful) President’s Day weekend.
Good luck and we’ll see everyone again shortly.