GBP/JPY Technical Analysis

[Jebatfx]

At this moment, I'm looking foward for another bearish continuation trend to perform a diagonal triangle corrective wave abcde pattern refering to the alt count in yellow. Otherwise a breakout to the upper green trendline would indicates that perhaps market in progress to perform wave 2 either in white or magenta before expecting for another bearish continuation trend scenario. Advisable to look for any good opprtunity towards a bearish entry signal from BSTS later. Good luck.

[Jebatfx]

Chart 1H - Please be noted that I need to do slightly recounts due to the upside trend. Favourably, I believed market in bullish retracement trend to complete wave 2 before expecting for another major bearish continuation trend refering to either the alt count in yellow, magenta or white. At this moment, I'm looking for any opportunity towards the alt count in yellow. Otherwise, please be careful for any breakout towards the upper green trendline. Advisable to look for any bearish entry signal from BSTS later.



Chart Daily - As long the white/yellow critical line is remain intact, I believed market will perform another major bearish continuaton trend to perform wave iii once wave 2 is completed (yellow). Otherwise, if the line is taken, then perhaps we may see another bullish rally to complete major wave 4 in magenta before expecting for any bearish continuation trend. Good luck.

[Jebatfx]

At this moment, market showed a very strong bullish trend. Favourably, I'm looking forward for a completion for wave 2 in yellow and expecting for another bearish continuation trend to perform corrective subwave a, b and c in cyan. Otherwise, a further breakout towards the white/yellow critical line would indicates that we may see a bullish continuation trend to complete wave 2 in magenta. Good luck.

[Jebatfx]

At this moment, I'm looking forward for a bearish continuation trend to peform corrective wave c in cyan. A breakout toward the S3 would bolster to this scenario. Otherwise, please be careful for any possibility towards a bullish continuation trend refering to the alt count in magenta. Good luck and happy weekends.

[Jebatfx]

Chart 1H - Please be noted that due to the upside trend, therefore I need to do a recounts towards the previous alt counts in yellow and white. At this moment, I believed market in progress to perform wave 2 either in white/yellow (truncated subwave 5) or magenta (impulsive subwave 5/diagonal triangle pattern) before expecting for another bearish continuation trend scenario. Therefore, please confirm either subwave 5 will be a truncated or impulsive from BSTS later before making any short entry. Otherwise if the white/yellow/magenta critical line is taken, all this counts would be invalid.



Chart Daily - Preferably, I believed market in progress to complete subwave 2 in yellow before expecting for another major bearish continuation trend to complete subwave 3,4 and 5 in 5/C. Otherwise, please be careful for any breakout towards the white/yellow critical line that would bolster towards the alt count in magenta. Good luck.

[Jebatfx]

Preferably, I believed subwave 5 in c/2 is already completed (white/yellow) and I'm looking forward market to perform a bearish reversal trend to complete corrective wave a,b and c in cyan or major wave 3. A breakout towards the lower red trendline would bolster to this scenario. Otherwise please be careful for any bullish continuation trend scenario if wave 2 still not complete yet (magenta). Good luck.

[Jebatfx]

At this moment, price already break the lower yellow diagonal trendline. Favourably, I believed market in progress to perform corrective a,b and c either in cyan/yellow or white. A breakout towards the bearish continuation critical line 1 would bolster to the alt count in cyan/yellow otherwise a bounce scenario would indicates that perhap subwave b still in progress (white). Please be noted that both alt counts in yellow and white would be invalid if the white/yellow critical line is taken. Good luck.

[Jebatfx]

Please be noted that due to the bounce scenario at the bearish continuation critical line 1, therefore I believed market in progress to perform corrective wave b (yellow or white) which is more likely a reversal "Head and Shoulder" pattern before expecting for another bearish continuation trend scenario to complete corrective wave in c (yellow or white). A breakout towards the neckline would bolster to this scenario. Otherwise, a breakout to the white/yellow critical line would indicate another bullish rally perhaps to complete the unfinish subwave 5 in 2 (magenta). Advisable to look for any opportunity towards a short entry once corrective wave b (yellow or white) is completed from BSTS later. Good luck.

[Jebatfx]

Due to the breakout towards the bullish continuation critical line 1, therefore the previous alt counts in white and yellow is already invalid. Favourably, I believed market in progress to complete subwave c in 2 either in magenta or the latest alt count in white. A breakout to the pivot would indicate that perhaps market may already in progress refering to the alt count in magenta. Otherwise another bullish rally would indicate that subwave c in 2 may still in progress refering to the alt count in white. Therefore, please confirm either alt counts from breakout towards any critical lines or trendlines. Happy weekends and good luck.

[Jebatfx]

At this moment, I believed more likely market will perform another bullish continuation trend either to complete corrective subwave b in magenta or a truncated subwave 5 in yellow or a diagonal triangle reversal pattern refering to the alt count in white. Therefore, favourably advisable to look for any good bearish entry signal from BSTS later. Otherwise a breakout towards the lower yellow trendline would indicate that perhap corrective subwave c is already in progress. Good luck.