GBP/JPY Technical Analysis

[Jebatfx]

At the moment, please study all possible count (yellow, white and magenta). Please be extra carefull if wave 5 is truncated later. Only make an entry, if there is a good signal from BSTS (bullish continuation or bearsih reversal later).
Tips : Monitor signal from BSTS 3 later and entry confirmation from BSTS 2.
Good luck.

[Jebatfx]

At this moment, I believed market in subwave iii in wave 5. Either wave 5 is truncated wave (yellow) or an impulsive wave (white), I can only determine later. Preferable to monitor any bullish continuation or bearish reversal signal from BSTS later. Please wait for a good signal from BSTS before making an entry. Have a nice weekends.

[Jebatfx]

Market in small retracement phase at the moment. Unless the price break the pivot point, I believed there will be a bullish continuation later to complete wave v and 5. Looking forwards for a wave 5 truncated later unless the price break my bullish continuation critical line 4. Good luck and happy weekends.

[Jebatfx]

Gbp vs Jpy 1H, 4H & Daily Pre Market Overview



Chart 1H - Please study all the 3 possibility wave counts (yellow, white & magenta) and try to analyze which one is more preferable. If there is a bullish continuation, then we shall see either wave 5 is truncated (yellow) or an impulsive (white). Unless price break the retracement critical line which is favourable to magenta count, the bullish continuation scenario would still be valid.



Chart 4H - Unless there is a true breakout to the bullish continuation critical line 2, I believed most probably wave 5 will be a truncated wave scenario. Therefore please looking for a bearish reversal signal from BSTS later.



Chart Daily - Unless we see a true breakout to the upper lime trendline and later to the bullsih continuation critical line 2, I believed market preferably in magenta a b c counts to complete major wave b (yellow). Overall, last week daily pre market oveview chart forecast are still valid until this moment. Otherwise we may see a bullish continuation to complete wave c (white) and 4 (cyan) later.

Summary :-

Preferable, market in bullish continuation phase to complete wave 5 which is favourably a truncated wave..

Please looks for a bearish reversal signal from BSTS later once wave 5 is completed. Adviseable to wait for a complete triggered BSTS signal before making any entry. Good luck.

[Jebatfx]

Unless the price break my bullish continuation line 3, I strongly believed wave 5 could be a truncated wave (yellow). Either the price will make a “double top” later, I can only determine soon. Therefore please looks for a bearish reversal signal later from BSTS if this scenario would still valid. Otherwise we may see a strong breakout to complete an impulsive wave 5 (white).

[Jebatfx]

If truncated wave 5 already established (magenta) and the "diagonal triangle" (green triangle) pattern is valid, then I believed market is in bearish reversal trend. Otherwise, we may see another bullish continuation signal later on. Anyway, don't forget that tomorrow is a Showa day in Japan (holiday). Good luck.

[Jebatfx]

At this moment, price already break my bullish continuation line 2. Unless the price make a strong true breakout to the bullish continuation line 3, the wave 5 truncated scenario would still be valid. A true breakout to the lower red trendline would bolster the bearish reversal trend scenario. Therefore please be extra carefull and please wait for any signal from BSTS 3 before making any entry. Good luck.

[Jebatfx]

At this moment, price already break my lower red trendline. Unless the price make another bullish continuation and break my bullish continuation line 3, I believed a truncated wave 5 already completed and market in progress of bearish reversal trend to perform a corrective wave a, b & c later this week. Please wait for a complete signal from BSTS 3 and 3 before making any entry. Good luck.

Note : Today is a Showa day in Japan (Holiday)

[Jebatfx]

As expected, I believed a bearish reversal trend already began since the price already break my retracement critical line (magenta) and at the moment, the price already hit my TP 2. A pull back to complete wave b after subwave v in wave a is completed would bolster this scenario as long the previous high at bullish continuation line 2 still intact before another series of downtrend movement to complete wave c. At this moment, either we shall see a retracement to complete subwave iv before another downwards to complete subwave v (as long my retracement critical line in cyan still intact) or another continuation to perform an extension for subwave iii. Please study the a, b & c alternate counts in yellow and magenta. Good luck.

Tips :

1) Please look for a continuation for subwave v after subwave iv is completed.

2) And later a reversal signal for wave b from BSTS after subwave v is completed further later on.

[Jebatfx]

Until now, market in bearish continuation (subwave wave iii extension). Either there will be another bearish continuation or market will start a retracement to perform a subwave iv, I can only determine later. Please study all alternate counts and focus on BSTS 3 for any signal later. Make sure to wait a confirmation from BSTS 2 later before making any entry. Good luck.