GBP/JPY Technical Analysis

[Jebatfx]

Originally Posted by 4xStar

I checked the wolfe wave website & also forex factory. It looks interesting but I could not find a current indicator and apparently there are some problems with the russian one. I started a WolfeWave thread over at Forextown to discuss this so we can leave this thread clear for Jebatfx to post his charts

I hope this can help you eventhough mostly its in malay.

WolfeWave System - CariGold Forum

Good luck.

p/s - please be carefull using wolf wave technique.

[4xStar]

Looks like G-Y is blasting past your magenta & yellow points so I assume the white #v is its next target? And then a corrective a-b-c which you still have to draw?
I'm getting the hang of this, I think

[Jebatfx]

Previous updated forecast due to uploading problem at imageshack. Hereby I upload again the previous updated forecast together with recent forecast. Sorry for the inconvinience.

Yesterday update 11.09 pm



At this moment, price already hit my TP 2 and due to the breakout of the bullish continuation critical line 1, truncation scenario which is either my previous yellow and magenta alt counts already considered as invalid. Either price will continue upwards or rejected, I only can determine later. Most probably wave v (new alt count in yellow) is already completed and looking forward for bearish reversal trend to start perform soon. Otherwise we may see a strong breakout to the upper major green trendline for bullish continuation (white). Watch closely BSTS 2 tf 1H and 4H for any entry. Good luck.

Latest Update.



At this moment, I'm looking forward for a completon of wave v and waiting for a good bearish reversal signal from BSTS. Please noted that price already made a breakout to the upper major trendline in daily, therefore please be extra carefull. Either wave v is already completed or there will be another breakout to the bullish continuation crtical line 2 to complete wave v in white, it only can be confirm later. Preferably, wave v already in late stages (maybe completed) and strongly suggested to standby for a bearish reversal signal. Happy trading.

[Jebatfx]

Until this moment, market still in bullish continuation trend. But, advisable to look for a short entry rather then a long which I believed a bullish trend already at the late stages (either yellow or white). But be carefull if there will be a breakout to the bullish continuation line 3. Please noted that there seem to be a diagonal triangle reversal pattern (teal) in the chart. Good luck

[TheRumpledOne]

Ran into resistance

[Jebatfx]

Finally the price reached my TP for the alt count in white. I'm still looking for a bearish reversal trend and as long my bullish continuation line 3 still intact, plus if the supposed to be a diagonal triangle pattern (teal) and a throw-over pattern (yellow rectangle) stay valid, this will bolster for reversal scenario. Otherwise we may see a further bullish continuation which is refering as an extension of wave v scenario (yellow). Happy weekends.

[TheRumpledOne]

Price is trying to break through resistance.

Next stop 213.xx






Inching towards the 38% fib retrace off the bottom.

[Jebatfx]

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



Chart 1H - More likely a diagonal triangle pattern already established (teal) and if the bullish critical line 1 still intact, I believed we shall see a bearish reversal trend (white) later this week. Otherwise if the price make a true breakout to my bullish continuation line 1, then we may have to consider the alt wave count in yellow. Preferably - bearish reversal trend in white.



Chart 4H - Expecting to see a bearish reversal trend a, b & c in white if the extension wave v is already completed. Otherwise we may see another scenario as shown in alt count in yellow.


Chart Daily - Please noted that all alt counts either in white, yellow and magenta is still valid. At this moment price already reached to the upper green trendline and I'm looking forward for a price rejection either to perform wave iv in white or to complete wave b in yellow or wave 5 in magenta.

Summary :

1) Preferably for a bearish reversal trend to complete corrective wave a, b and c (white) if my bullish continuation line 1 still intact. Otherwise, we may see a breakout for a bullish continuation to complete alt count in yellow (according to 1H/4H charts).
Good luck.

[Jebatfx]

At this moment, we could see a few reversal patterns like a diagonal triangle, a throw-over and a reversal gap. If this all this pattern is valid and wave v (white) is already completed, then preferably we shall see bearish corrective a, b and c (white) later this week. Otherwise if my bullish continuation line 1 is taken, then we have to consider the alt count in yellow. Please noted that there will be an NFP news this friday. Good luck.

[Jebatfx]

At this moment market in strong bearish reversal trend and please noted that my previous yellow alt count already invalid (please refer from my previous post). Either market in completion of wave a in white or its really referring to the major corrective a,b and c according to the alt count in yellow. Please watch closely my dotted red horizontal line and the lower 2nd major red trendline for any bearish continuation trend. Otherwise we may see a retracement to complete subwave 4 in cyan. Therefore please confirm any signal trend from BSTS later before making any entry. Good luck.