GBP/JPY Technical Analysis

[Jebatfx]

At the moment, the price already break my long major critical line. Due to this scenario, I prefer a Bearish Continuation if the breakout is true breakout. But otherwise as we can see, the blue triangle channel trendline is getting smaller so I presumed there will be a retracement soon. Also, as we can see there are a triple bottom pattern, maybe. If this triple bottom is a true signal and valid, then I believed there will be a bullish reversal to complete wave 2(alt count in white) in previous daily chart thats I have posted earlier. My tips is wait for a good BSTS long retracement entry signal (refer to bigger tf1H/4H only) if there is. Good luck trading and have a nice day.

[Jebatfx]

The price already kissed my FE 100% (203.48) and at the moment I believed the price will do a correction(retracement). A breakout to the upper triangle trendline(blue) will boilster this point for view. But if the price break the lower trendline, most probably we wll see another continuation. Just wait for a good signal from BSTS before make a long entry. Preferable - Retracement.

[Jebatfx]

At the moment, I believed the price in the correction phase (retracement) and will move up along inside the green triangle to complete wave iv before another bearish continuation to complete wave c and 5. As long the price not break the major long critical line, this scenario will be valid. But if we have a breakout to the lower trendline of the green triangle and its continue to break the major long critical line, it can be consider that we are already in a bearish continuation. the other option is an alt count (in white) where as the market are in bullish reversal. A breakout to the short critical point will boilster this alt count idea. Preferable - Correction Phase (Retracement - in wave iv). Wait for a complete signal from BSTS before making any entry.

[Jebatfx]

I still believed wave iv is far from complete yet. A breakout to the upper triangle trendline would boilster this point of view. Look for a bulish continuation signal from BSTS to confirm this scenario. Otherwise we might see a double bottom later. Preferable - Retracement.

[Jebatfx]

It seems that the price cannot break the upper triangle trendline and therefore break the lower which I believed making a "Double Bottom" pattern. As long the price not breaking the bearish continuation critical line, we still have a valid retracement scenario. But the other possibility is that the price might have a false breakout to perform an "Inverted Head & Shoulder" which is a sign for a Bullish Reversal trend. Otherwise if its a true breakout, then we will see a bearish continuation to complete wave v and c. Preferable - Double Bottom and Retracement.

[Jebatfx]

I believed a "Double Bottom" already established which is from my point of view we should see a good retracement later to complete wave iv. But please bear in mind, thats there are also a possibility for a Bullish Reversal scenario(alt count - white). So later only make a short entry IF there is a COMPLETE signal from BSTS. Othewise if the price break to the bearish continuation critical line, then all above would be invalid. Preferable - Retracement.

[Jebatfx]

I believed the price was in the move of making wave iv. Unless the price breaking the lower major long critical line and later if continue to break the bearish continuation critical line , this scenario would be still valid. Just hold your previously bottom long entry until there is a reversal signal from BSTS. Good luck.

[Jebatfx]

At the moment, I believed wave 2 already completed and looking forward for wave 3 retracement to complete wave iv. Watch the green triangle closely before making any entry. Preferable retracement to complete wave iv unless we have a breakout at the bearish continuation critical line. Good luck.

[munierah]

huuuu...apa bendaa ni? lgsg tak paham...

[Jebatfx]

I believed wave 3 in the making. Lock your profit until there any close signal from BSTS. Good luck. Preferable - Retracement Continuation