GBP/JPY Technical Analysis

[Jebatfx]

Until this moment, market still in strong bearish trend to complete an extension of subwave 3. I'm still looking forward possibility for a good bullish retracement to complete subwave 4 (magenta or white) trend later once subwave 3 is completed. Also, please be extra careful for tomorrow NFP announcement for any bearish continuation or a bullish retracement. Good luck.

[Jebatfx]

Due to the yesterday bullish retracement trend and further later another bearish continunation trend, I believed subwave 4 is already completed and looking forward for another retracement to complete subwave iv (cyan) before further bearish continuation to complete subwave v (cyan) in wave v/5/3 (magenta). Preferably, I'm looking forward for a major bullish retracement (magenta) or reversal (white) later today or next week referring to the alt count in magenta or white(truncated). Please watch closely the yellow reversal critical line. Otherwise we may see another bearish continuation to complete an extension of subwave iii (cyan) in 3 (yellow). Good luck and happy weekends.

[Jebatfx]

Due to the price already break the reversal critical line 1, therefore the previous alt counts in magenta and yellow is already invalid. Please be noted that market now either in bullish retracement trend (magenta or yellow) or already in bullish reversal trend. Another bearish continuation trend later once wave 4 is already completed would favour to the alt count in magenta (truncated) or yellow (impulsive). Otherwise a further breakout to the reversal critical line 2 would favour to the bullish reversal trend scenario. Good luck.

[Jebatfx]

At this moment, I'm looking forward for a completion of major wave 5 before expecting for a major corrective a, b and c. Please be noted that wave 5 have 3 possible scenarios which is :

1) Truncated wave 5 (white)
2) Truncated wave 5 - triple bottom (magenta)
3) An Impulsive wave 5 (yellow)

Therefore please look for any good bullish reversal signal from BSTS later once wave 5 (white or magenta or yellow) is completed. Good luck.

[Jebatfx]

At this moment market in progress to perform major wave 5 either referring to the alt counts in white (truncated), magenta (truncated) or yellow (impulsive). Please study all possibe alt counts and determine what is your next trading strategy. Advisable to look for a good bullish reversal entry signal to perform major corrective a,b and c from BSTS later once major wave 5 (white or magenta or yellow) is completed. Please be extra careful, since got a good possibility also market to perform a bullish retracement to perform subwave ii in yellow before another bearish continuation to complete subwave iii in 5 (yellow). Good luck.

[Jebatfx]

Until this moment, market still inside the teal triangle and I'm looking forward for any breakout to determine which alt counts is more preferable. Favourably, I'm looking for an upside trend either to complete corrective wave a in white (bullish reveral) or subwave ii in yellow (bullish retracement. A valid inverted "H & S" would bolster for an upside trend either to complete wave a (white) or subwave ii (yellow). Therefore please be careful and watch closely for any true breakout either to the lower red trendline or to the proposed neckline. Good luck.

[Jebatfx]

Preferably, I'm looking forward for completion a truncated major wave 5 either referring to the alt count in white or magenta before expecting a bullish reversal trend to perform corrective wave a,b and c. Otherwise we may see another bearish continuation according to the alt count in yellow. Please look for any good reversal entry signal from BSTS later. Good luck.

[Jebatfx]

At this moment, I'm still waiting for a true breakout either to the upper or lower teal triangle trendline before I can determine which alt count is more favourable. Overall, I'm looking for an opportunity for a bullish reversal trend once wave 5 is completed. But please be extra careful for a bearish continuation scenario referring to the alt count in yellow. Good luck.

[Jebatfx]

Preferably, I believed a truncated wave 5 (white or magenta) is already established and looking forward for a bullish reversal trend to perform a major corrective a,b and c. A valid triple bottom pattern and a further breakout to the upper green trendline and critical line 1 would bolster this scenario. Otherwise a breakout to the bearish continuation line 7 would put this scenario in major doubt (yellow). Good luck and happy weekend.

[Jebatfx]

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



Chart 1H - I'm looking forward for a bullish reversal trend to complete corrective wave a, b and c refering either to the alt counts in white or magenta. Otherwise, please be careful for any possibility according to the alt count in yellow. Please be noted that corrective wave b is possible to perform a triple bottom before any bullish continuation to perform corrective wave c (magenta).



Chart 4H - Please analyse all possible alt counts and advisable to look for any bullish continuation entry signal from BSTS later once wave b (white or magenta) is completed. But please be careful for any scenario to perform subwave ii in yellow. Please be noted that the alt count in yellow would be invalid if there is any true breakout to the yellow critical line.



Chart Daily - Please watch closely the green upper trendline for either to complete wave a in magenta of any breakout to perform wave a in white. Preferably, I'm looking for any possibility of a truncated wave 5 (white or magenta) and a bullish reversal trend to perform corrective wave a, b and c.

Summary :

1) Preferably I believed market already completed a truncated wave 5 (white or magenta) and looking forward for a bullish reversal trend to perform corrective a, b and c.

2) Please be noted wave b could retrace according to the alt count in white or in magenta (triple bottom). Therefore, please confirm from BSTS later.

3) Otherwise please be careful for a possibility of a bearish continuation scenario referring to the alt count in yellow.

Good lucks.