SHORT ON GBPJPY

1) The wave behavior, show us a retracement of 61.8% from previous downtrend movement in the 240 chart.
2) In the same way, we can see the break up of a support area in the price area of 169.506.
3) So, the 61.8% retracement area of the last downtrend movement, is in the same support area that had been broken off.
This area, would be the SHORT ON GBPJPY.