GBP/JPY Technical Analysis

[Jebatfx]

Chart 1H GJ - Preferably, I'm looking forward for a bearish reversal trend to be perform refering to the alt counts in yellow. A breakout to the lower red trendline would bolster towards this scenario. Otherwise please be careful for any unfinish corrective wave b in white or major wave 4 in magenta.

Chart Daily GJ - I believed, market just performed a major bullish retracement trend to complete major wave 4 (white, magenta or yellow). Therefore, I'm looking for any opportunity towards any major bearish continuation trend scenario to complete major wave 5 with condition wave 4 is already completed. A valid diagonal triangle pattern would bolster towards this scenario. So, advisable to look for any good bearish entry signal from BSTS or your trading system.

[Jebatfx]

Chart Weekly EU - I believed market will perform a further major bearish continuation trend to complete major wave c with condition major wave b is already completed (yellow). But, please be careful if the major wave b is still not complete yet (white).

Chart Daily GU - Preferably, I'm looking for a possibility toward a bearish trend either refering to the alt count in yellow (truncated) to perform corrective wave a,b and c OR magenta which is to perform major wave 5. A valid diagonal triangle patern would bolster towards this cenario. Otherwise, please be careful since market may perform another bullish continuation trend to complete wave v in c (white). Therefore, please confirm from any breakout towards any critical lines later.

Chart Weekly GU - Favourably, I'm looking for any bearish continuation trend scenario with condition either wave c (yellow) or wave 4 (magenta) is already completed. But please be careful for any bullish continuation trend to complete the unfinish wave c in white.

Summary - Overall, I'm looking forward for any possibility towards the bearish trend scenario either in GJ, EU or GU. But please confirm any trend or alt counts from your trading system. Also, please be careful since there will be an NFP announcement tonight at 8.30 pm (GMT+8). Good luck.

[Jebatfx]

At this moment, price just bounce after break the lower red trendline. Favourably, I'm looking for a further bearish continuation trend to complete subwave i in yellow. While a further breakout to the neckline would bolster towards the alt count in cyan in which indicates that subwave i and ii is already completed. Otherwise, please be careful for any strong bounce scenario and any breakout toward the upper green trendline. Happy holidays and good luck.

[Jebatfx]

At this moment, preferably I'm looking forwards for any bearish continuation trend either in yellow or cyan alt counts. Please be careful for any bounce scenario that is more likely I believed market have to perform a bullish retracement trend to complete wave ii yellow. While another strong breakout to the neckline would bolster towards the alt count in cyan. Otherwise, please be careful for any breakout to the upper green trendline (dotted line). Good luck.

[Jebatfx]

At this moment, I believed market in progress to complete subwave ii either in white or yellow before expecting for another bearish continuation trend to perform subwave iii in c. Therefore, advisable to look for any possibility completion of subwave ii from BSTS later before making any short entry. Otherwise, please be careful for any breakout towards the upper green trendline or white/yellow critical line. Good luck.

[Jebatfx]

At this moment, price already break the possible neckline and major lower red trendline. Favourably, I believed market in progress to complete subwave iii either in yellow or white before expecting for any bullish retracement trend to perform subwave iv. A further breakout to the magenta critical line would bolster the major bearish continuation trend scenario to complete major wave 5. But, please be careful for any strong bullish retracement trend and any breakout to the white/yellow critical line. Good luck.

[Jebatfx]

Preferably, I believed market in progress to complete wave iv in yellow before expecting for another bearish continuation trend to perform either a truncated or an impulsive wave v. Advisable to look for any bearish continuation entry signal from BSTS later as long the bullish continuation critical line 1 is remain intact. Otherwise, please be careful if there is any breakout to the bullish continuation critical line 1. Please be noted also that the previous alt count in magenta is already invalid. Good luck.

[zlrfx]

ok so im a newbie but here is what i did. im taking a short position at 152.00 because ( buy the way how do i post my chart) there was a down trend line on 1hr and the top is right around 152,20 so i checked the news and it didnt show any up coming for the rest of the day. and i was wantiing to do a SL 152.60 and TP at 151.80 what do ya think?

[Jebatfx]

Originally Posted by zlrfx

ok so im a newbie but here is what i did. im taking a short position at 152.00 because ( buy the way how do i post my chart) there was a down trend line on 1hr and the top is right around 152,20 so i checked the news and it didnt show any up coming for the rest of the day. and i was wantiing to do a SL 152.60 and TP at 151.80 what do ya think?

hi,

Your sl should be refer to the bullish continuation critical line 1. For latest updated, please refer to my updated forecast. To post the charts, u have to right click at the charts and save is as image 1st. Then upload via babypips or imageshack. Good luck.
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At this moment, I believed market will perform a bearish continuation trend either to complete an impulsive subwave v in yellow or a truncated wave v (magenta or white). Therefore, please be careful for any truncated scenario or any breakout to the bullish continuation critical line 1. Good luck and happy weekends.

[Jebatfx]

Favourably, I'm looking for further bearish continuation trend scenario either to complete subwave v in 1 in white (double bottom) or yellow before expecting for any bullish retracement trend to complete wave 2. But, please be careful for any possibility towards a truncation scenario refering to the alt count in magenta. Therefore, please look for any breakout to the critical lines to confirm which alt counts that is more in favour. Good luck.