GBP/JPY Technical Analysis

[Jebatfx]

There are 2 possible wave count at the moment and its still unclear so far which one look more favourable. Unless the price break the lower red trendline, a bullish retracement continuation would be expected to take place later on. Otherwise the price might go down to complete wave 5, v & c. Please wait a good entry signal from BSTS before you decide to enter the market. Good lucks.

[Jebatfx]

Price already touched the lower red trendline but then rebounce back. I came out with "Diagonal Triangle" correction wave (blue diagonal) which is from my personnel point of view, the price will go up to complete wave e before going down again to complete C and V. Otherwise if the price break the short critical line, this scenario will be invalid. Or, the price will continue going down and break the lower red trendline for a bearish continuation.

[Jebatfx]

At the moment, price already DT until reached my bearish continuation critical line. So this shows that market in favour towards bearish continuation. But if the "triple bottom" is valid, we have a reversal signal scenario. And as long the point is not taken, this idea will be valid. Otherwise if the DT continue to break the bearish continuation critical line, I believed wave c,v,5 DT in progress. Please wait for a complete signal from BSTS before making any entry. Good luck.

[Jebatfx]

Price already retrace up to complete wave 4 and later going down back to complete wave 5. But if the price continue to go up and break the bullish reversal critical line, this count will be invalid. A bearish continuation will be confirm once the price break to lower triangle trendline. Otherwise, the alt count (white) will take place if the "triple bottom" still valid later on. Good luck.

[Jebatfx]

Market already made a retracement more then it supposed to be. Therefore the previous wave count (12345) already considered as invalid. Therefore either GJ will have a bearish extansion or a bullish reversal. Personnaly, I'm more prefer to my alt count (bullish reversal). It is because :-
1) An EW truncation pattern (teal triangle) - indicates an exhaustion in bearish trend.
2) "Triple Bottom" pattern (blue rectangle) - as long the point has not been taken.
3) Once the price break the bullish confirmation line.
Otherwise, there will be a bearish extansion later on if the price break the bearish continuation critical line. Good luck.

[Jebatfx]

Price already break my bullish confirmation line. Therefore preferable to the alt count and I believed wave c and v (yellow) already completed. At the moment price already reached my TP which is FE100 207.27 and looking for any retracement or continuation from BSTS. Good luck.

[Jebatfx]

I believed wave a already completed and the price will make a retracement to complete wave b before going up again to complete wave c. If not, then we shall see wave a expansion. Otherwise if the price break the lower red trendline, we shall see a bearish continuation. Wait for a complete BSTS signal before making any entry. Have a nice day.

[Jebatfx]

At the moment, price still in correction phase adn I'm waiting for a breakout either to the lower triangle trendline or the upper triangle trendline. If the "Double Top" pattern is valid, preferable the price will make a breakout to the lower triangle trendline. Otherwise, we shall see a bullish continuation. Please refer to the BSTS for confirmation.

[Jebatfx]

I believed wave b still incomplete and personnaly I prefer the price will go bearish to complete it. If it do so, we have 2 probability which is going bullish again or going bearish by breaking the lower red trendline. Otherwise, we have a straight bullish according to alt count. Preferable - Retracement Continuation.

[Jebatfx]

At the moment, price already reached to my tp. So later we need to determine either a signal for Bullish Reversal or Bearish Continuation. Once the price enter the red triangle territory, we are in Bearish Continuation critical zone. Its still too early for me to say which one is more favourable. So please wait for a good signal either a Bullish Reversal or aBearish Continuation from BSTS. Good luck.