GBP/JPY Technical Analysis

[Jebatfx]

At this moment price still in the corrective teal triangle zones. Its better to wait for any true breakout 1st before making any conclusion. I believed the price will going up either to complete wave 5 and IV (magenta) or to complete wave 2 for major downtrend (cyan a b c). So its very high risk to make any entry at this moment. Please wait for any reversal signal from BSTS 3 and BSTS 2 before making any decission. Good luck and happy weekends.

[Jebatfx]

Gbp vs Jpy 1H, 4H & Daily Pre-Market Overview



Chart 1H - At this moment, price showing a bearish continuation trend to complete wave V and 5. A breakout to the bearish continuation critical line and later to the bullish critical line 1 would bolster this point of view. Otherwise we might see another retracement continuation if the price bounds back at the double bottom zones later. Look for any bearish continuation signal or reversal retracement signal from BSTS later.



Chart 4H - Watch closely for any breakout to those critical lines as stated above before making any decission.



Chart Daily - In daily charts, we can see clearly the price already at the critical line (yellow rectangle zones) for a bearish continuation to complete wave 5 and V. A true breakout will bolster a bearish continuation scenario. Otherwise, thhe price might bounds back for last retracement continuation. Please correlate all this forecast details with BSTS signal to help you in making decission of any entry. Be wise and patient. Good luck for next week.

[Jebatfx]

I believed the major retracement for wave IV still unfinished. Looking forward to see a “triple top” later if the price still move inside the uptrend channel trendline. Therefore a breakout at 200.10 would bolster this scenario. Please wait for a Major Bearish Continuation signal later from BSTS. Good lucks.

[Jebatfx]

Its very hard to see which preferable trend for the market today. But I do believed there would be another bullish retracement continuation later to complete wave IV in magenta. At this moment price moving inside the corrective teal triangle and I’m waiting for any breakout either to the upper or lower trendline to determine what is the next preferable trend. Its better to staay out from the market and wait for any major signal for bearish continuation later. Preferable - bullish retracement continuation (probably a triple top).

[Jebatfx]

At this moment, its still unclear what the preferable trend would be. Adviseable to stay out from the market and wait for everything to be unfold 1st. Watch closely the trendlines and critical point. Please refer to BSTS signal at tf 1H and 4H. Good luck.

[Jebatfx]

At the moment, the price already downwards and bias to bearish trend. But if the triple bottom stay valid, the bullish retracement continuation would still valid. Otherwise we will see perhaps a major bearish trend later. But I believed this scenario won’t happen until this Friday NFP news, but maybe I’m wrong. Anything could happen. Good lucks.

[Jebatfx]

Finally, what I have been expected happen. I believed market in bullish retracement continuation and most probably with perform a triple top before a preparation for a major bearish continuation. As long the price not breaking the major bearish critical line. this major bearish continuation speculation would still valid. At this moment the price approaching my TP1 and if there is an extension, the price might reach my TP2. Good luck.

[Jebatfx]

At this moment, price already hit my TP2. Therefore, I’m looking for any bullish retracement continuation or a reversal signal from BSTS. If the triple top stay valid, then we have a bigger probablity for a bearish reversal/continuation. Otherwise if the price continue to further upwards and later break the major bearish critical line, then the bearish reversal/continuation scenario would become invalid. Please wait for a complete reversal signal from BSTS before you making any entry. Good luck.

[Jebatfx]

At this moment, I’m still looking for any continuation (extension) or reversal/bearish retracement signal from BSTS. Please don’t make any fast and easy conclusion that the price may start go downwards after performed a triple top. We still need to be confirm later is the triple top will stay valid or there will be a breakout ? And always consider the price might follow the white count if the price make the breakout to the major bearish critical line later. So please wait for a complete signal from BSTS before you decide into making any entry. Have a nice day.

[Jebatfx]

At this moment, “triple top” scenario already become invalid. The price break and making a new high. Therefore, we must revise back about the 2 main pro****lty which is a bullish continuation or a bearish reversal. We are in the critical moment which is either scenario have the same pro****lity to be happen. So please watch the major bearish critical line 1 and 2 closely. If both line is taken, then the bearish scenario would become invalid. Otherwise if the line keep intact, then we might see a major bearish trend later. Please be extra carefull since tonite and tomorrow there will be a NFP related news. Its better to refer a signal from BSTS -4H chart. Good lucks.