GBP/JPY Technical analysis

traderpulse Updated   
FX:GBPJPY   British Pound / Japanese Yen
The daily chart of the GBP/JPY has formed a Full Elliot Wave.
It is poised for a bullish correction in the form of ABC Wave.
The pair is also in downchannel formation and there is a good possibility that it will go towards its upper trendline.
It has also formed a morning star pattern in the candlestick pattern.
So as per the above analysis,we can expect the bulls to take charge in the GBP/JPY counter.
Going to retest the broken support


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.