GBP/JPY Technical Analysis

[Jebatfx]

At this moment the price already break my red critical trendline. If we looks at previous history, this is the fourth time the price trying to break the strong support line (bearish continuation critical line). Either it will succeed or not, we need to wait and see later. Please wait for any good signal from BSTS either Bearish Continuation or Bullish Reversal. Have a nice day.

[Jebatfx]

At the moment, price moving inside the small triangle. So we shall need to wait and see for any breakout later. For a bullish reversal bias, the price must break both the lime trendlines while for a bearish continuation bias, favourable if the price break the lower red trendline. Watch closely both trendlines and signals from BSTS. Good luck.

[Jebatfx]

Price already make a breakout to the upper lime triangle trendline. So we have 2 possibility here which is a retracement or a bullish reversal. At the moment, its better to consider it as a retracement unless the price break the Fibo 61.8% which is also as my short critical line. Otherwise we may see a bearish continuation later on if recently breakout at the bearish continuation critical line is a true breakout. Happy trading.

[Jebatfx]

Price already retrace until nearly Fibo 50% and going down at this moment. So either we shall see a bearish continuation later or just a small DT to complete wave 2 before starting a bullish reversal trend later. Please refer to the 2 possibility wave count given in the chart.

[Jebatfx]

At this moment, I decided to categorizes the price into 3 zones which is :-
1) Green Zones - once the price enter this territory, the price is in bullish reversal bias.
2) Teal Zones - this is where the current price belong at the moment. The price still in retracement/correction phase.
3) Red Zones - once the price enter to this territory, the price is in bearish continuation bias.
Please watch closely all the critical lines and I would like to advise to wait for a very good signal from BSTS before making any entry.

[Jebatfx]

Price once again touching the bearish continuation critical line. If the "Double Bottom" pattern in valid, we shall see a bullish reversal trend. Otherwise if the price make a true breakout, then we shall see a bearish continuation. Good luck

[Jebatfx]

At this moment, I decided again to categorizes the price into 3 zones which is :-
1) Green Zones - once the price enter this territory, the price is in bullish reversal bias.
2) Teal Zones - this is where the current price belong at the moment. The price still in retracement/correction phase.
3) Red Zones - once the price enter to this territory, the price is in bearish continuation bias.
Although, its slightly show a bit bias to bullish but its still unclear which one is the real major trend that will be take place later. Whoever that already made a long entry this afternnon according to BSTS signal, please move up your stop loss above your entry point. Good luck.

[Jebatfx]

Market still in correction phase. A breakout to the pivot point would bolster bullish scenario. While a break out to the lower red trendline will give more confirmation towards bearish bias. So we need to wait and see which breakout will take place. Good luck.

[Jebatfx]

Finally the price hit my TP2. Either there will be a bearish continuation or a retracement, we need to wait and see. I believed the price will downtrend until Fibo 161.8% before maybe a reversal (depends on whether got bearish continuation or not). If we look in details, we can see a "Diagonal Triangle" (red triangle) and a "Throw-Over" (green triangle) pattern, which is a sign for a reversal later on. But we need to wait for the price to complete wave iii, iv and v first before that senario could happen. So happy weekends and good lucks.

[Jebatfx]

Chart 1H - I believed the price will make a retracement/reversal later due to :-
1) a "Diagonal Triangle" pattern
2) an "Over-Throw" pattern
Otherwise we may see a bearish continuation later. I need to wait for a breakout and a signal from BSTS for a confirmation.



Chart 4H - The price shows a strong bearish trend and already hit the middle dotted yellow trendline. So, either there will be a retracement or a bearish continuation, can only be confirm later. Please study both wave counts and watch closely all the critical line.



Chart Daily- The price already hit the middle red dotted trendline. We may see a breakout later next week to complete wave 3 before make a retracement to complete wave iv. Please study both wave counts and watch closely all the critical line before making any entry. Please wait for a complete signal from BSTS before making any new entry. Happy weekends and good luck