GBP/JPY Technical Analysis

[Jebatfx]

At this moment, I decided to categorizes the price into 3 zones which is :-
1) Green Zones - once the price enter this territory, the price is in bullish reversal bias.
2) Teal Zones - this is where the current price belong at the moment. The price still in retracement/correction phase.
3) Red Zones - once the price enter to this territory, the price is in bearish continuation bias.
Please watch closely all the critical lines and I would like to advise to wait for a very good signal from BSTS before making any entry.

[Jebatfx]

Price once again touching the bearish continuation critical line. If the "Double Bottom" pattern in valid, we shall see a bullish reversal trend. Otherwise if the price make a true breakout, then we shall see a bearish continuation. Good luck

[Jebatfx]

At this moment, I decided again to categorizes the price into 3 zones which is :-
1) Green Zones - once the price enter this territory, the price is in bullish reversal bias.
2) Teal Zones - this is where the current price belong at the moment. The price still in retracement/correction phase.
3) Red Zones - once the price enter to this territory, the price is in bearish continuation bias.
Although, its slightly show a bit bias to bullish but its still unclear which one is the real major trend that will be take place later. Whoever that already made a long entry this afternnon according to BSTS signal, please move up your stop loss above your entry point. Good luck.

[Jebatfx]

Market still in correction phase. A breakout to the pivot point would bolster bullish scenario. While a break out to the lower red trendline will give more confirmation towards bearish bias. So we need to wait and see which breakout will take place. Good luck.

[Jebatfx]

Finally the price hit my TP2. Either there will be a bearish continuation or a retracement, we need to wait and see. I believed the price will downtrend until Fibo 161.8% before maybe a reversal (depends on whether got bearish continuation or not). If we look in details, we can see a "Diagonal Triangle" (red triangle) and a "Throw-Over" (green triangle) pattern, which is a sign for a reversal later on. But we need to wait for the price to complete wave iii, iv and v first before that senario could happen. So happy weekends and good lucks.

[Jebatfx]

Chart 1H - I believed the price will make a retracement/reversal later due to :-
1) a "Diagonal Triangle" pattern
2) an "Over-Throw" pattern
Otherwise we may see a bearish continuation later. I need to wait for a breakout and a signal from BSTS for a confirmation.



Chart 4H - The price shows a strong bearish trend and already hit the middle dotted yellow trendline. So, either there will be a retracement or a bearish continuation, can only be confirm later. Please study both wave counts and watch closely all the critical line.



Chart Daily- The price already hit the middle red dotted trendline. We may see a breakout later next week to complete wave 3 before make a retracement to complete wave iv. Please study both wave counts and watch closely all the critical line before making any entry. Please wait for a complete signal from BSTS before making any new entry. Happy weekends and good luck

[Jebatfx]

I believed the price will will start to retrace in making wave iv soon. At this moment, the price still in strong DT but already shows some resistance to make any continuation. A breakout to the upper green trendline would bolster this idea. Please study carefully all the trendline, critical line and the alt count before you making any decission for an entry. Wait for a complete signal from BSTS 2 before making any entry. Preferable - Retracement.

[Jebatfx]

At the moment, we have a wave iii expansion (bearish continuation) and I'm still waiting for a retracement signal from BSTS. BSTS shows a retracement phase is getting closer and please wait for a complete retracement signal from BSTS 2. Otherwise, we shall see another bearish continuation later. Good luck.

[Jebatfx]

I believed, retracement will start anytime from now. As long the price did not enter the red rectangle, this scenario would still be valid. I believed the price will start making a b c inside the teal rectangle later. Otherwise if the price make a true breakout into the red rectangle zones price, this whole idea will be invalid. Preferable - Retracement for wave iv

[Jebatfx]

At this moment, I believed a prelimenary "double bottom" has just been established. Most probably this critical bottom will be tested again later. The price will retrace to complete wave iv, by make 1 2 3 4 5 subwave later. Unless the bullish critical line 2 has been taken, this scenario would still be valid. Good luck.