GBP/JPY Technical Analysis

[Jebatfx]

I'm looking forward for any breakout again to the teal expansion triangle today. Expecting to see a strong bearish breakout to be happen today. Advisable to protect your short entry by putting SL according to the upper green trendline of the teal expansion triangle. Otherwise we may see a breakout to the bullish continuation line 3. Good luck and happy weekends.

[Jebatfx]

At this moment, alt count in white already invalid. If the 'double top" scenario stay valid and the bullish continuation line 3 still intact, the preferably bias to alt count in yellow. Otherwise we may see a bullish continuation refering to magenta count. Have a nice weekends.

[Jebatfx]

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



Chart 1H - An ascending triangle showing more bias towards bullish continuation to complete wave 5 in yellow. A breakout to the bullish continuation line 1 would bolster this scenario. But please noted that there was a good chances to see a bearish reversal trend refering to alt counts in magenta. Please analyse all the critical lines and look for any breakout of the ascending triangle before making any decission. Good luck.



Chart 4H - Please analyse both alt counts and comparing which count is more preferable from BSTS technical analysis.



Chart Daily - Overall, market still favourably bias towards a bullish continuation trend due to the recent breakout at 208.95. But please noted the possibility of the alt count in magenta. Therefore, advisable to monitor the market 1st and only making decission once the real trend has been unfold.

Summary :

1) Watch closely for any true breakout of the ascending triangle pattern and plan your trading strategy base on that. Standby for the bullish continuation breakout to perform wave 5 in yellow.
2) Advisable to wait for a bearish reversal trend later once wave 5 is completed (magenta or yellow). Preferably, look for the signal from BSTS later.

Good lucks.

[Jebatfx]

At this moment price already make an upper breakout of the horizontal triangle EW corrective pattern (ascending triangle) and favourably looking forward for a bullish continuation refering to alt count in yellow. A true breakout to the bullish continuation line 1 would bolster this scenario. But please be carefull for a "bullish trap scenario" refering to alt count in magenta. Advisable to wait for a short entry after completion of wave 5 (magenta or yellow). Therefore please analyse a completion signal of wave 5 from BSTS before making any short entry. Good luck.

[Jebatfx]

Market in bullish trend now and I'm looking forward for the completion of wave 5 (magenta or yellow) before we can see a bearish reversal trend to complete correction a, b and c. Please noted that if the price make a breakout to the green dotted horizontal line, then the magenta count would be invalid and preferably price will continue according to alt count in yellow. Tip - Standby for short entry once wave 5 is completed to perform a major a. b and c corrective wave.

[Jebatfx]

At this moment, market either in retracement phase to complete subwave iv before another bullish continuation to complete subwave v (white) OR already in bearish reversal trend to complete wave a (magenta). I'm looking forward for a breakout to the lower descending teal triangle to bolster either to the retracement or bearish reversal scenario. Please noted that a breakout to the bearish reversal bias line would favourably to the alt count in magenta. Therefore, please take notes all the importants critical line and confirm any preferable trend from BSTS signal. And don't forget to protect and manage your entry by moving the SL. Good luck.

[Jebatfx]

At this moment, price just bounce back after touched my bearish reversal bias line. I believed wave 5 already completed and preferably looking forward to see a bearish reversal trend to perform the corrective a, b and c later this week. Unless the price make a true breakout to the bullish continuation line 1, this scenario would still valid. Please look for another bearish continuation signal later from BSTS. Good luck.

[Jebatfx]

I'm looking forward for a completion of subwave 5 (cyan) and corrective wave a (magenta or yellow) soon. Preferably, once this completed, I believed price will going upward to perform a corrective wave b 1st. before another bearish continuation to establish major corrective wave in c later this week. Please noted that if the price make a breakout to the bullish continuation line 1, this scenario would be invalid. Good luck.

[Jebatfx]

I believed subwave 5 in wave a is already completed and looking forward for a minor bullish corrective a, b & c (cyan) to complete wave b (magenta/yellow). At this moment, price still inside the teal triangle and advisable to wait for another good entry signal from BSTS later within this few days. Please watch closely the new bearish bias price channel and the other critical lines as stated in the chart. Good luck.

[Jebatfx]

I'm looking forward for a completion of wave b eiher a flat corrective (white) or an expanded flat corrective (magenta or yellow) today before later possible a major bearish corrective of wave c. Please noted that this scenario would only valid if the bullish continuation 1 still intact. A true breakout to the bearish reversal bias line would bolster the bearish reversal point of view. Therefore please monitor a bearish continuation signal from BSTS later. Good luck.