Almost there

Dragon Riders GBP/JPY

Loss of previous low suggests 147/146 - and I would suspect overshoot lower, making 146/8 into resistance. Converse side - over 152.4/5, 154 then 156.1/5 suggests bottom of large potentially bullish triangle wherein 158/159 eventually becomes ...

Dragon Riders GBP/JPY

Thank you for that. Probably the fixed price currency settings before the mid 80's can be discounted, but the 1989 ish peak and prices since then certainly appears to be a fairly perfect descending triangle.

Dragon Riders GBP/JPY

I wish I had a yearly chart, or at least a chart displaying back before 1992. Because I think we're missing something quite big. This still has something to do with the gap of 1992 and subsequent consolidation since then. Kind of still feel there's ...

Dragon Riders GBP/JPY

Yes, but UJ has/had about 4-5 different supports in this area, with two at about 106.6. So until they broke there is/was a small chance of something else happening. Just like at 154.4 there is a tiny chance that GJ could yet break up again over ...

Dragon Riders GBP/JPY

Welcome to the downside

Dragon Riders GBP/JPY

Yeah, but in my book, UJ under 106.8 confirms bearish

Dragon Riders GBP/JPY

Unless it quickly gets back under 155.5 and then 155, this could become a very bullish correction.

Dragon Riders GBP/JPY

The final move inside a triangle returns to the 50% level and is then rejected out. This triangle began at 174.7

Dragon Riders GBP/JPY

Starting at 174, a likely 2200 pip high triangle

Dragon Riders GBP/JPY

Much below today's low, the pair would seem to move back into "intervention territory" And it might not come from Japan.

Dragon Riders GBP/JPY

Suspect the BOJ works with him sometimes because most others hate his guts.

Dragon Riders GBP/JPY

It may not be a triangle. Could be a price channel, wherein it weaves its way slowly through support .... and when it's done, it drops its pants.

Dragon Riders GBP/JPY

Yes, the Yen. Conventional wisdom is that it will fall only a little more before coming back to break 111. However, under 107, it eventually breaks 104, and is running about 3-4 months behind Sterling Yen. In that regard, it would arrive in about ...

Dragon Riders GBP/JPY

My best take on it is that at this place here, multi hour, multi day, multi month and multi year supports all pretty much come together here. In other words, .... this is it. One way or the other.

Dragon Riders GBP/JPY

156.5. The 61.8 of the move up. Also possibly mapping out a perfect diamond and at the base right now. Much below here and it could be stuffed.

Dragon Riders GBP/JPY

Last time 155 lifted it up in oct 2013

Dragon Riders GBP/JPY

The issue is that at 159.6 it technically dropped out. If that can be reclaimed, then its good to go

Dragon Riders GBP/JPY

For what its worth, 159.3 ish is the new monthly pivot. 158.822 is the 50% mark of the entire consolidation. 158.72 is the 50% of the move up thus far. Not that any of that stuff is probably gunna help it

Dragon Riders GBP/JPY

And I reckon about here is where it decides.

Dragon Riders GBP/JPY