GBP/JPY Analysis, Chart, and Trading Idea

Analytics for CHF/JPY Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels
 

The trend is descending. The ascending truncated wave structure finished in the range between  365 and 135 ЕМА. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the overbought state.

Trading idea:

Buy at the breach of  161.680;

Stop-loss: 162.290;

Target price levels: 161.00, 159.50.