GBP/JPY Technical Analysis

[Jebatfx]

I believed the price will going upwards to complete wave b later. A breakout to the upper teal trendline triangle would bolster this point of view. Otherwise we may see a bearish continuation to complete wave 4. Please look for any bearish retracement continuation later from BSTS after wave b is completed. Good luck.

[Jebatfx]

At this moment I believed wave b still in progress. Either wave b was already established or still in the making which later will perform a double top later ?, can only be determine soon. A breakout to the upper trendline of teal triangle will indicates that b still in progress. If this happen, and the “double top” is valid (previous high still intact), then we may see a preferable wave c later. But if they have a true breakout at 205.12, then all the retracement continuation would become invalid (yellow count). So we still need to wait for the trend to be unfold later to determine which count is preferable. Please study all the 3 possible counts that are given and look for a complete signal from BSTS 2 and BSTS 3 later. Good luck.

[Jebatfx]

I believed wave b still not complete and the price will going upwards later. A true breakout to the upper trendline of teal triangle would bolster this scenario. But if this happen, market got 2 possibility which is :-

1) Price making wave b - still in retracement phase. (maybe a double top) - white count.
2) Price already in bullish continuation - if making a true breakout at my bullish continuation critical line (205.12) - yellow count.

Otherwise we have the 3rd option, which is the cyan count. I’m still waiting a confirmation from BSTS and please wait for a complete signal from BSTS before making any entry. Good lucks.

[Jebatfx]

A breakout to the lower trendline of teal triangle make preferably for cyan count. I believed market in retracement continuation to establish wave iv (most probably fibo 50%). But please be carefull and study the new white counts. Just lock your profit and later looks for any bullish continuation signal from BSTS later. Good luck.

[Jebatfx]

I believed the price on the move to complete wave 4. Either”double bottom will be valid or not, can only be determine later. If we do have a true breakout to the previous bottom (”double bottom”), the market maybe in retracement continuation to complete wave 4 either to the fibo 50% or near to the fibo 61.8%. But if later the price continue downwards and make a true breakout to the retracement critical line 1, wave count in white would be more preferable. Otherwise, we may see a bullish continuation to complete wave 5 later. Please wait for a complete signal from BSTS 2 & 3 later before making any entry.

[Jebatfx]

At the moment, price already made a breakout to the upper teal triangle trendline. Either its a true or false breakout, can only be determine later. I believed wave 4 still incomplete and we may see another downwards movement later. At breakout to the previous bottom (201.10) would bolster this scenario. Please study all the alt count given and do your own analysis which count is more preferable. Otherwise if wave v & 4 already completed, the price will going upwards and later a breakout to the bullish continuation line 2, would bolster this alt scenario and ocassionally all the downwards scenario would become invalid. Tips - Please look for a complete bullish reversal (continuation) signal from BSTS 2 and 3 later. Good luck.

[Jebatfx]

At the moment, price already move inside my bullish continuation zones (green zones). As long the price stay inside the green zones and the double bottom stay valid, a bullish continuation scenario to complete wave 5 would still be valid. A true breakout to the bullish continuation line 2 would bolster this point of view. Otherwise if the price break the “double bottom” line, we may have the alt white count. Please move your respective SL and lock your profit. Good luck.

[Jebatfx]

At the moment price retracement back to the previous bottom either to make a triple bottom or it will break through later. Due to this, we back to square one again and need to analyze again all the possibility count. Its better to wait for the price to unfold 1st. Have a nice day.

[Jebatfx]

At this moment, we left with only 2 possibility. Its either count in white or yellow. As long the retracement critical line 2 still intact, count in yellow still valid. Otherwise we will see a bearish continuation to complete wave v and c (white). Please be extra carefull and only making any entry once there are complete signal from BSTS. Good luck.

[Jebatfx]

At this moment price seems like to start a retracement to complete wave iv. As long the previous bottom (bearish continuation critical line) is not been taken, this scenario would still be valid. Otherwise we may see a bearish continuation (extension) for wave iii. Tips : wait for a complete BSTS signal for a bearish continuation after wave iv complete. Good luck.