GBP/JPY Technical Analysis

[Jebatfx]

At the moment, market in Retracement Bullish phase. The price in the process to complete wave 4 and 5 in iv before start going down again to complete wave v and c. But please take note that there was a "Exhaustion Gap" (purple rectangle) which a sign of reversal. And yesterday we can saw another gap (outline purple rectangle) but its didn't show in the chart today. If the gap do exist, that shows an "Island Reversal" pattern (bigger outline purple rectangle) which is a sign of reversal. So from that point of view, I came out with an alt count (white colour). As long the price not breaking the major bullish critical line, a Bearish Continuation scenario would still be valid and later going down to complete wave v and c. Otherwise if the point is taken, the market might be in Bullish Reversal trend (alt count -white). Preferable - Retracement Continuation until further notice.

[Jebatfx]

Market in small correction phase which I believed will going up again to complete wave 5 and iv. Watch closely the upper triangle trendline. Looking for a breakout before making any decission or entry. Unless the price break 205.43, the bullish retracement continuation would still be valid. Preferable - Bullish Retracement Continuation.

[Jebatfx]

I believed, market in the process to complete wave 5 and iv. Either its already established making a "Double Top" (blue rectangle) or still in progress, its still need to be confirm later from BSTS Reversal Signal. As long the short critical point is not taken, Bearish Reversal Continuation would still be valid. Otherwise if taken, the scenario would be in major doubt. Tips - Stanby for a Bearish Reversal Signal from BSTS.

[Jebatfx]

Chart 1H - I believed wave 5 and wave iv still not complete yet. I'm looking for a truncated wave 5 later. Or maybe we will see a "Triple Top" later before a Bearish Continuation trend. Unless the price break the major bullish reversal critical line, a Bearish Reversal Continuation idea to complete wave v and c DT would still be valid. Tips - wait for very good reversal signal from BSTS before making any entry.



Chart 4H - I believed wave v and 4 still not complete yet and looking for a bullish continuation later. Looking for a triangle breakout for confirmation. Unless the price breaking the bearish critical line, a Bearish Reversal Continuation would still be valid. Happy trading and good luck.

[Jebatfx]

Market already break the lower trendline which is preferable for a bearish bias. But there are possibility also for a Bullish Continuation (white count) if the price cannot break the major long critical line. We need to wait until the NFP news to see the real trend later. Have a nice weekends.

[Jebatfx]

Chart 1H - I'm getting more bias towards my alt count. As long the price move in blue and red zones, the market is in bullish trend. A breakout to the short critical point and later to the major bullish reversal critical point would boilster this point of view. Unless the price break the lower red zone trendline, this idea would be invalid, means thats favourable back to Bearish Continuation. Otherwise preferable a Bullish Reversal Continuation. Please do the checklist and wait for a complete signal from BSTS before making any entry.



Chart 4H - I can see clearly that a retracement to complete wave iv still incomplete. As long the price move inside the blue and red zones, this speculations would still be valid. But if the price still continue to bullish and break my bearish critical line, I'm more favour for a bullish continuation already. Please take notes about my alt count. Otherwise if the price break the lower red zone trendline, preferable for a bearish continuation to complete wave C and 5.



Chart Daily - There are 2 possible counts and it still unclear for me to determine which one is more favourable. I believed the real trend will be unfold by next week. So good luck in your trading and to my members, please do your homeworks and the checklist before making any entry.

[Jebatfx]

There are 2 possible wave count at the moment and its still unclear so far which one look more favourable. Unless the price break the lower red trendline, a bullish retracement continuation would be expected to take place later on. Otherwise the price might go down to complete wave 5, v & c. Please wait a good entry signal from BSTS before you decide to enter the market. Good lucks.

[Jebatfx]

Price already touched the lower red trendline but then rebounce back. I came out with "Diagonal Triangle" correction wave (blue diagonal) which is from my personnel point of view, the price will go up to complete wave e before going down again to complete C and V. Otherwise if the price break the short critical line, this scenario will be invalid. Or, the price will continue going down and break the lower red trendline for a bearish continuation.

[Jebatfx]

At the moment, price already DT until reached my bearish continuation critical line. So this shows that market in favour towards bearish continuation. But if the "triple bottom" is valid, we have a reversal signal scenario. And as long the point is not taken, this idea will be valid. Otherwise if the DT continue to break the bearish continuation critical line, I believed wave c,v,5 DT in progress. Please wait for a complete signal from BSTS before making any entry. Good luck.

[Jebatfx]

Price already retrace up to complete wave 4 and later going down back to complete wave 5. But if the price continue to go up and break the bullish reversal critical line, this count will be invalid. A bearish continuation will be confirm once the price break to lower triangle trendline. Otherwise, the alt count (white) will take place if the "triple bottom" still valid later on. Good luck.