GBP/JPY Technical Analysis

[Jebatfx]

A breakout to the lower trendline of teal triangle make preferably for cyan count. I believed market in retracement continuation to establish wave iv (most probably fibo 50%). But please be carefull and study the new white counts. Just lock your profit and later looks for any bullish continuation signal from BSTS later. Good luck.

[Jebatfx]

I believed the price on the move to complete wave 4. Either”double bottom will be valid or not, can only be determine later. If we do have a true breakout to the previous bottom (”double bottom”), the market maybe in retracement continuation to complete wave 4 either to the fibo 50% or near to the fibo 61.8%. But if later the price continue downwards and make a true breakout to the retracement critical line 1, wave count in white would be more preferable. Otherwise, we may see a bullish continuation to complete wave 5 later. Please wait for a complete signal from BSTS 2 & 3 later before making any entry.

[Jebatfx]

At the moment, price already made a breakout to the upper teal triangle trendline. Either its a true or false breakout, can only be determine later. I believed wave 4 still incomplete and we may see another downwards movement later. At breakout to the previous bottom (201.10) would bolster this scenario. Please study all the alt count given and do your own analysis which count is more preferable. Otherwise if wave v & 4 already completed, the price will going upwards and later a breakout to the bullish continuation line 2, would bolster this alt scenario and ocassionally all the downwards scenario would become invalid. Tips - Please look for a complete bullish reversal (continuation) signal from BSTS 2 and 3 later. Good luck.

[Jebatfx]

At the moment, price already move inside my bullish continuation zones (green zones). As long the price stay inside the green zones and the double bottom stay valid, a bullish continuation scenario to complete wave 5 would still be valid. A true breakout to the bullish continuation line 2 would bolster this point of view. Otherwise if the price break the “double bottom” line, we may have the alt white count. Please move your respective SL and lock your profit. Good luck.

[Jebatfx]

At the moment price retracement back to the previous bottom either to make a triple bottom or it will break through later. Due to this, we back to square one again and need to analyze again all the possibility count. Its better to wait for the price to unfold 1st. Have a nice day.

[Jebatfx]

At this moment, we left with only 2 possibility. Its either count in white or yellow. As long the retracement critical line 2 still intact, count in yellow still valid. Otherwise we will see a bearish continuation to complete wave v and c (white). Please be extra carefull and only making any entry once there are complete signal from BSTS. Good luck.

[Jebatfx]

At this moment price seems like to start a retracement to complete wave iv. As long the previous bottom (bearish continuation critical line) is not been taken, this scenario would still be valid. Otherwise we may see a bearish continuation (extension) for wave iii. Tips : wait for a complete BSTS signal for a bearish continuation after wave iv complete. Good luck.

[Jebatfx]

What a strange day to trade ! Since the price already break my previous retracement critical line, I need to recount and came out with another 2 new possibility. If the price break my new retracement critical line (201.00), then preferable for count in yellow to take place later. Please study all counts and my advise is better to stay out from the market until next week unless we can see a clear trend or a complete signal from BSTS preferable TF 1H or 4H later. Good luck.

[Jebatfx]

At this moment, its still unclear which trend is more favourable. I’m waiting for the breakout of the teal triangle for further assesment. Personally, adviseable only to trade by next week since yesterday and today market scenario is so confusing. Even, BSTS showing a mix signal which is indicates wiseable not to trade for today. Anyway, just monitor a signal from BSTS and later only make an entry if there is a good complete signal from BSTS.

[Jebatfx]

At this moment market in very strong bearish trend. I believed later there will be a retracement to complete wave 4 before another bearish continuation to complete wave 5. Either there will be a wave 3 extension (bearish continuation) can only be determine later. Please look for a retracement signal and later a bearish continuation from BSTS. Good luck and happy weekends.