GBP/JPY Technical Analysis

[Jebatfx]

Looking forward for any breakout either to the upper or lower trendlines of the teal triangle before determine which counts is more preferable. Therefore please analyse any signal from BSTS before making any entry. There is a possibility that today is a hedging day in market until tomorrow NFP news. Good luck.

[Jebatfx]

Due to the breakout of the 207.10, the previous alt count in yellow already became invalid, therefore please analyse the latest possible alt counts as stated in the chart. At this moment, price already in rejection after touch the bullish continuation line 1. If the line stay as a strong resistance, then perhaps we shall see a bearish trend either according to the alt count in yellow or white. Otherwise we shall see a bullish continuation either to complete wave c in magenta or more. Good luck.

[Jebatfx]

Price already break my bullish continuation line 1 and looking forward for a completion either refering to wave b in yellow or in white (triple top) or wave c (magenta). Therefore, please look for any bearish reversal signal from BSTS or otherwise we may see a strong bullish continuation to break the strong resistance of the bullish continuation line 2. Be extra carefull tonite at 8.30 pm (GMT +8) for the announcement of NFP news. Good luck.

[Jebatfx]

A breakout to my bullish continuation line 2 made my previous alt counts in yellow and white become invalid. Therefore, I need to recount another possible wave count which is refering to new wave count in white, yellow and magenta (previous). Please noted that most probably market in wave 3 (yellow/white/magenta) at the moment and I'm looking for a confirmation for completion of wave 3 before a bearish retracement to perform wave 4 and further later for another bullish continuation to complete wave 5 (an impulsive or truncated). Good luck.

[Jebatfx]

Until this moment, I believed market already in wave 3 extension and price just got rejection after touched the upper major green trendline. I'm looking forward for a retracement phase to complete wave 4 later before another bullish continuation to complete wave 5 (only valid if my retracement critical line still intact). Please noted that wave 5 could be an impulsive wave (magenta) or only a truncated wave (yellow or white).

Summary :

1) Preferably market will be in retracement phase to complete wave 4 before another bullish continuation to complete wave 5.
2) Otherwise if my bullish continuation line 3 is taken, then favourably market already in bullish continuation and this retracement phase would be put into hold position first.
3) Please confirm any entry from BSTS later. Good luck.

[Jebatfx]

I believed wave 4 in progress and looking forward for a completion of wave 4 before another bullish continuation to complete wave 5 either an impulsive wave (magenta) or just a truncated wave (yellow). This scenario would only valid if my retracement critical line still intact. Other we may consider the alt count in white. Please monitor BSTS 3 for any bullish continuation signal later. Good luck.

[Jebatfx]

At this moment, market got 3 possibility either to the alt counts in white, yellow (truncated) or magenta (impulsive). Advisable to wait for a good entry signal either a bearish reversal or a bullish continuation signal from BSTS later. Please watch closely the bullish continuation line 3 and the S3 line. Good luck.

[Jebatfx]

At this moment, overall we left with only 2 possible trend which is either a bearish reversal (yellow/white) or bullish continuation (magenta). Please watch closely the teal triangle for any breakout. A breakout to the upper teal triangle trendline and later to the bullish continuation line 3 would bolster the bullish continuation scenario. Otherwise if both lines stand as a strong resistance, then preferably to the alt count in yellow or white. Advisable to look for a bearish reversal signal from BSTS later. Good luck.

[Jebatfx]

At this moment, I'm looking forward for a true breakout to the lower red trendline of the new expansion teal triangle to bolster the bearish reversal scenario. Otherwise if the price break the bullish continuation line 3, this scenario would be invalid. Please noted that if the price break the retracement critical line, then the magenta count would be invalid while if the price make a breakout to the bullish continuation line 3, then both alt counts in white and yellow would be invalid. Good luck.

[Jebatfx]

Until this moment, the upper green trendline still intact as a strong resistance. Price already made a small breakout to the lower trendline of the teal triangle and bounce back. I'm looking forward for a further downtrend movement soon to bolster the bearish reversal scenario. Otherwise if the price make a breakout to the upper green trendline and later to the bullish continuation line 3, this scenario would be invalid. Goodluck.