GBP/JPY Technical Analysis

[Jebatfx]

Market already made a retracement more then it supposed to be. Therefore the previous wave count (12345) already considered as invalid. Therefore either GJ will have a bearish extansion or a bullish reversal. Personnaly, I'm more prefer to my alt count (bullish reversal). It is because :-
1) An EW truncation pattern (teal triangle) - indicates an exhaustion in bearish trend.
2) "Triple Bottom" pattern (blue rectangle) - as long the point has not been taken.
3) Once the price break the bullish confirmation line.
Otherwise, there will be a bearish extansion later on if the price break the bearish continuation critical line. Good luck.

[Jebatfx]

Price already break my bullish confirmation line. Therefore preferable to the alt count and I believed wave c and v (yellow) already completed. At the moment price already reached my TP which is FE100 207.27 and looking for any retracement or continuation from BSTS. Good luck.

[Jebatfx]

I believed wave a already completed and the price will make a retracement to complete wave b before going up again to complete wave c. If not, then we shall see wave a expansion. Otherwise if the price break the lower red trendline, we shall see a bearish continuation. Wait for a complete BSTS signal before making any entry. Have a nice day.

[Jebatfx]

At the moment, price still in correction phase adn I'm waiting for a breakout either to the lower triangle trendline or the upper triangle trendline. If the "Double Top" pattern is valid, preferable the price will make a breakout to the lower triangle trendline. Otherwise, we shall see a bullish continuation. Please refer to the BSTS for confirmation.

[Jebatfx]

I believed wave b still incomplete and personnaly I prefer the price will go bearish to complete it. If it do so, we have 2 pro****lity which is going bullish again or going bearish by breaking the lower red trendline. Otherwise, we have a straight bullish according to alt count. Preferable - Retracement Continuation.

[Jebatfx]

At the moment, price already reached to my tp. So later we need to determine either a signal for Bullish Reversal or Bearish Continuation. Once the price enter the red triangle territory, we are in Bearish Continuation critical zone. Its still too early for me to say which one is more favourable. So please wait for a good signal either a Bullish Reversal or aBearish Continuation from BSTS. Good luck.

[Jebatfx]

At this moment the price already break my red critical trendline. If we looks at previous history, this is the fourth time the price trying to break the strong support line (bearish continuation critical line). Either it will succeed or not, we need to wait and see later. Please wait for any good signal from BSTS either Bearish Continuation or Bullish Reversal. Have a nice day.

[Jebatfx]

At the moment, price moving inside the small triangle. So we shall need to wait and see for any breakout later. For a bullish reversal bias, the price must break both the lime trendlines while for a bearish continuation bias, favourable if the price break the lower red trendline. Watch closely both trendlines and signals from BSTS. Good luck.

[Jebatfx]

Price already make a breakout to the upper lime triangle trendline. So we have 2 possibility here which is a retracement or a bullish reversal. At the moment, its better to consider it as a retracement unless the price break the Fibo 61.8% which is also as my short critical line. Otherwise we may see a bearish continuation later on if recently breakout at the bearish continuation critical line is a true breakout. Happy trading.

[Jebatfx]

Price already retrace until nearly Fibo 50% and going down at this moment. So either we shall see a bearish continuation later or just a small DT to complete wave 2 before starting a bullish reversal trend later. Please refer to the 2 possibility wave count given in the chart.