GBP/JPY Technical Analysis

[Jebatfx]

Looking forward to see a breakout to the lower trendline of my small teal triangle soon. Expecting for a major corrective later this week to complete wave c (yellow). A true breakout to the lower thick red trendline would bolster this scenario. But the major bearish trend have a possibility which is either an impulsive wave c (yellow) or just a truncated wave c that will only perform a triple bottom (magenta) later. Otherwise we may see a bullish continuation after a true breakout to the bullish continuation line 3. Please noted that today is a holiday for Gbp & Japan (will continue until tuesday). Good luck.

[Jebatfx]

At this moment, price already touched my lower red trendline and bounce back. Either they will be a bearish continuation and later break the lower red trendline, can only be determine later. I believed market in the process to complete wave a or subwave i before a major bearish trend after completion of wave b or subwave ii. Unless the price make a breakout to the bullish continuation line 3, this scenario would still be valid. Please look for a bearish continuation signal later once wave b or subwave ii is completed. Good luck.

[Jebatfx]

At this moment, price already entered into my bearish bias maroon triangle zones. Expecting to see a bullish retracement to complete wave b/ii later once wave a/i is completed before another strong bearish trend to perform wave c either in magenta or yellow. This scenario would still valid unless the price make a true breakout to the bullish continuation line 2. Advisable to look for a bearish continuation signal later from BSTS. Good luck.

[Jebatfx]

Unless my bearish continuation critical line 1 is taken, I believed wave a or 1 already completed. Looking forward to see a bullish retracement trend later to perform wave b or 2. A true breakout to the upper green trendline would bolster this point of view. Its better to wait for a complete signal for any bullish retracement signal or bearish continuation signal later today or tomorrow. Please don’t forget about the possibility of alternate count in white. Good luck.

[Jebatfx]

I’m looking forward to see a small bearish trend to perform subwave b in cyan before another bullish trend to complete wave c (cyan) or wave b (magenta) or wave 2 (yellow). This scenario would still valid unless the price later break my bullish continuation line 2. Please also noted about bullish wave count in white. Therefore, please be confirm later which trend is more preferable from BSTS signal. Good luck

[Jebatfx]

I believed market already in bearish corrective trend at the moment. Expecting to complete the corrective sequences a b c for the bullish truncated trend 1 2 3 4 5 in previous month (yellow). A true breakout to the bearish continuation line 2 & 3 would bolster this scenario. Please study all possible counts and wait for a bearish continuation signal later from BSTS. Good luck.

[Jebatfx]

At this moment, market in bearish continuation trend. I’m waiting for a retracement to complete subwave iv later once wave iii is completed. Please look for a bearish continuation signal later for subwave v from BSTS. Good luck

[Jebatfx]

At this moment, price already hit my TP1. Either subwave iii already completed and starting to retrace to complete subwave iv, I only can determine later. Please study both counts (yellow & white) and analyse from BSTS for any signal to make an entry. Preferable to look for a bearish continuation signal later from BSTS but please be carefull for any bullish reversal trend. Good luck.

[Jebatfx]

I believed market in retracement phase to complete subwave iv (cyan) or wave 4 (white) before another bearish continuation to complete subwave v (cyan) and wave 3 (yellow). Please also consider the probability for wave count in white which is a truncated wave 5 (double bottom) scenario. At this moment, I still can’t determine either wave count in yellow or white is more preferable. Therefore, please be carefull before making any entry. Preferable for bearish continuation to complete wave 3 (yellow) or 5 (white) after completion of retracement subwave iv (cyan) or wave 4 (white). Good luck

[Jebatfx]

At this moment, market still in strong bearish continuation trend. I’m looking forward for a bearish continuation signal and a major retracement phase later. So please be carefull before making any entry. Watch closely my proposed “double bottom” area (valid/invalid) and the bearish continuation line 3 for any breakout. Please study both yellow and white counts and wait for a good bearish continuation signal or retracement signal later from BSTS. Good luck and happy weekends.