GBP/JPY Technical Analysis

[Jebatfx]

Finally the price reached my TP for the alt count in white. I'm still looking for a bearish reversal trend and as long my bullish continuation line 3 still intact, plus if the supposed to be a diagonal triangle pattern (teal) and a throw-over pattern (yellow rectangle) stay valid, this will bolster for reversal scenario. Otherwise we may see a further bullish continuation which is refering as an extension of wave v scenario (yellow). Happy weekends.

[Jebatfx]

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

Chart 1H - More likely a diagonal triangle pattern already established (teal) and if the bullish critical line 1 still intact, I believed we shall see a bearish reversal trend (white) later this week. Otherwise if the price make a true breakout to my bullish continuation line 1, then we may have to consider the alt wave count in yellow. Preferably - bearish reversal trend in white.

Chart 4H - Expecting to see a bearish reversal trend a, b & c in white if the extension wave v is already completed. Otherwise we may see another scenario as shown in alt count in yellow.

Chart Daily - Please noted that all alt counts either in white, yellow and magenta is still valid. At this moment price already reached to the upper green trendline and I'm looking forward for a price rejection either to perform wave iv in white or to complete wave b in yellow or wave 5 in magenta.
Summary :
1) Preferably for a bearish reversal trend to complete corrective wave a, b and c (white) if my bullish continuation line 1 still intact. Otherwise, we may see a breakout for a bullish continuation to complete alt count in yellow (according to 1H/4H charts).
Good luck.

[Jebatfx]

At this moment, we could see a few reversal patterns like a diagonal triangle, a throw-over and a reversal gap. If this all this pattern is valid and wave v (white) is already completed, then preferably we shall see bearish corrective a, b and c (white) later this week. Otherwise if my bullish continuation line 1 is taken, then we have to consider the alt count in yellow. Please noted that there will be an NFP news this friday. Good luck.

[Jebatfx]

At this moment market in strong bearish reversal trend and please noted that my previous yellow alt count already invalid (please refer from my previous post). Either market in completion of wave a in white or its really referring to the major corrective a,b and c according to the alt count in yellow. Please watch closely my dotted red horizontal line and the lower 2nd major red trendline for any bearish continuation trend. Otherwise we may see a retracement to complete subwave 4 in cyan. Therefore please confirm any signal trend from BSTS later before making any entry. Good luck.

[Jebatfx]

I'm looking forward for any retracement trend later to complete subwave 4 before another bearish continuation to complete subwave 5 (truncated or impulsive). Please noted that this scenario in only valid if the retracement critical line still intact. Otherwise we may see a bearish continuation trend preferably according to the alt count in yellow. Please analyse BSTS 2 & 3 tf Weekly and Daily before making any entry. Good luck.

[Jebatfx]

I believed market in progress for retracement phase to complete subwave 4 (white or magenta) and looking forward for another bearish continuation to complete subwave 5 (white or magenta).
Please noted that this scenario would only valid if my retracement critical line stay intact. Otherwise we may see a bearish continuation according to alt count in yellow. Therefore please monitor any entry signal from BSTS before making any entry. Good luck.

[Jebatfx]

Its more likely subwave iv is already completed and looking forward for a completion of subwave v (magenta or white) or wave 3 (yellow). Advisable to be extra carefull for any long (bullish retracement) entry since overall analysis showing a strong bias towards bearish trend from BSTS. Make sure to wait for completion of subwave v (magenta/white) or wave 3 (yellow) before making any bullish retracement entry with a tight SL. Preferably - standby for a retracement phase once subwave v (magenta/white) or wave 3 (yellow) is completed to perform wave 4 (yellow) or wave b (white) and later a bearish continuation to complete wave c (white) or wave 5 (yellow). Good luck.

[Jebatfx]

I believed subwave a (white) or wave 4 (magenta/yellow) in progress and looking forward any chance for a bearish continuation to complete wave 5 (magenta/yellow) or subwave a, b & c in wave b (white) later. Please watch closely my retracement critical line. If this critical line is taken then all this scenario would be invalid. Therefore, please be patient to wait for a good bearish continuation signal to complete wave 5 (magenta/yellow) or C (white) from BSTS later. Make sure to make an entry only after a good bearish signal triggered from BSTS.

[Jebatfx]

Until this moment, my retracement critical line still intact, therefore preferably to see a bearish continuation later either refering to alt count in magenta or yellow (truncated wave 4) or white ( subwave a, b & c in b). Otherwise if the retracement line is taken, then all this scenario would be invalid. Please confirm which favourable trend later from BSTS. Good luck.

[Jebatfx]

Although overall signal still bias to bearish trend but please noted that there is possibility for the market to be in bullish trend either according to alt count in magenta or white. Therefore, please analyse all this possible alt counts and confirm it later from BSTS before making any entry. Please noted that favourably maybe market will be in hedging phase until before the announce of the NFP news on Friday. Good luck.