GBP/JPY analysis Wlky chart

I let the settings of last month, the only thing I can say, it's incredible, it s a school case, we were right, I couldn't imagine than GBPJPY will drop like that in a month, GBP took a huge slap.

GBPJPY dropped by in about 1 600 pips!!!

It s funny cause on the chart we can see a the wave clearly,

Wave 1 from 251.09(Jul 07) to 219.32 (Aug 07)

Wave 2 from 219.32 to 241.36(Oct 07)

wave 3 from 241.36 to 192.53(Mar 08)

wave 4 from 192.53 to 215.87(Jul 08)

Wave 5 current move with an objective to 184.10

On daily chart, everything is showing bearish trend, RSI is entering in oversold territory, MACD is under 0, trend is bearish.
The ichimoku, are showing also the same bear trend, the 2 sen crossed, we are dealing under the cloud, and the Span is going to new lows,

GBP/JPY is going back to the March 08 lows at 192.50, if we break it the objective is the area of 184-185.

Becareful in using the points this month, as we had a huge volatility in August the signals are wide, so recommand to adjust it with your money management.

In the uptrend

Be Long @207.11 with 202.62 as SL

Be Short @202.62 with 207.11 as SL

In the downtrend

Be Long @193.62 with 189.13 as SL
Be Short @189.13 with 193.62 as SL

I am waiting a small bounce in the coming days to 202.60, test of the 13/8/8 low, seems to be a nice resistance, the same with 201.78(21/8/8)low.