An overview of the
currency markets by 
Hello.
Taking a break from the EUR/USD, let’s take a look at the GBP/JPY.
The first screen capture is of the daily chart. We labeled the chart with our count of the longer-term movement. Have we completed a Wave 3 bottom on 12/12?
We turn to the hourly chart and see a potential triangle forming. If it breaks the bottom trend line, it will likely go down and test the 12/12 low again. If it breaks that low, then we know we are in a continuation of the down trend.
If the pair heads up and breaks the upper trend line, then we’ll wait and see if it breaks the high of 12/16.
Keep in mind this pair moves very quickly in a short amount of time. If you’re not used to trading this pair, applying your own money management and stops are necessary to protect you from whipsaws.
On a side note, I’d also like to wish my wife a Happy Birthday. Her birthday is actually on December 20 (how convenient when the markets are closed) so it’ll be a fun time for us and the family.
Don’t forget - you need to take the time to rejuvinate yourself so you’re fresh for trading.
Good luck and if we don’t post again before the weekend, have a safe and happy weekend!