Setups to consider...JPY, EUR, GBP hourly view...

23 February 8:56 a.m. ET

When in doubt stay out…and I must admit to more than the average degree of doubt at the moment…that being said, here are some setups to consider…

USD/JPY Hourly Long – Low today at 111.75; key support (78.6% retrace) at 111.80; and 2nd pivot resistance at 111.84 …divergence hourly basis…if Wave B, then we would expect a rally back above 115…

EUR/USD Hourly Long: Retraced just over 61.8%.  Now expecting a three-wave recovery back toward near-term swing high at 1.1135; possibly an opportunity to sell at 1.1135 for an intermediate-term wave down… 

GBP/USD Hourly Consolidating, but…:  A big plunge on Brexit momentum from last Friday’s high at 1.4409.  Breaking this into an A-B-C; there was an extension target to 1.4075…the low was 1.4056…now consolidating…confidence is low to moderate…if you do play this long a stop just below the 1.4056 low likely make sense, as the big volume likely comes in at the big figure 1.4000 level (123.6% extension).

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