Gbp vs Jpy 1H, 4H & Daily Pre Market Overview
Chart 1H - Unless the price make a true breakout to the bullish continuation critical line 2 and the “double top ?” stay valid, I expecting there will be a bearish trend later on next week. Otherwise we may see a bullish trend (white).
Chart 4H - I believed a truncated wave 5 already established and I’m looking forward to see a completion of corrective wave of a, b and c (yellow) later on next week. But please study all the alternate counts and wait for a good signal from BSTS before making any entry.
Chart Daily - I’m looking forward for a completion of subwave a, b and c in cyan unless the price making a strong breakout to the bullish continuation critical line 2.
Summary :
Preferable, market in corrective phase to finish wave c corrective after an impulsive wave 1 2 3 4 & a truncated wave 5 (yellow).
Please looks for a bearish continuation signal from BSTS later for wave c. This scenario only valid as long the bullish critical line 2 and the “double top ?” stay valid. Otherwise we may see a bullish continuation accordingly to alternate wave count in white. Advisable to wait for a complete triggered BSTS signal before making any entry. Good luck.