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...
GBP/JPY has broken its bearish trend line. The price action has also created a higher low.
The price action indicates that it will move towards the next resistance placed at 148.092.
If it makes a bullish crossover above the resistance,then we can expect the price to move towards the major resistance of 149.967.
The 3-hour chart of GBP/JPY has current made a lower low which is resulted in a trend formation with downside bias.
We expect the pair to make a pullback to re-test its support and bears will be expected to enter the counter at that zone.
This can be also construed as head and shoulder formation,so a pullback upto the neckline can be expected.
The counter looks...
The 4-hour chart of GBP/JPY has formed a double top pattern.
Now the pair is in a corrective rally and it may extend upto resistance zone of 146.098.
But the pair can witness selling pressure even before reaching the resistance zone.
There is also major news event today,so expect high volatility in the counter.
Hi all,
The potential momentum of the signals formed in a stable pattern.
we can evidently, witness the impulse and its correction in rapid manner(shown in graph).
From 156.684 ,we can see the impulse and its correction one after another and finally it sticks at 145.222(shown in graph).
Market is like a coin it only has two probabilities, but today both favors...
From our analysis, GBP/JPY completes the triangular pattern & Elliot waves
It is expected to go up 0.318 retracement @147.128 after then price will decides the action.
From our analysis GBP/JPY failed to break 4/8 @150 value murrey math line which can potentially retest 2/8 and later then test 0/8 murrey math line @ 146.880 price next week target
From our analysis, GBP/JPY breached out of bearish pennant flag pattern it will be expected to down more. The price can reach @ 139 considering long time.
From this our analysis, There is a Triangular elliot wave pattern drawn between 144.977 & 153.800.
* If the current market price will reach the 4th elliot retracement price @ 150.573 means it will bearish until price @ 144.977.
* If the current market price doesn't reach the 61% retracement, it may bearish within the triangular shape until price @ 147.00. There...
GBPJPY pair is on high resistant areas a chance of 100+ pips down might expected...! on breaching the resistance might increase the chances of going up....!
