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Time now: Jun 1, 12:00 AM

Analysis GBP/JPY

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I believed wave 3 in the making. Lock your profit until there any close signal from BSTS. Good luck. Preferable - Retracement Continuation
 
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At the moment, market in Retracement Bullish phase. The price in the process to complete wave 4 and 5 in iv before start going down again to complete wave v and c. But please take note that there was a "Exhaustion Gap" (purple rectangle) which a sign of reversal. And yesterday we can saw another gap (outline purple rectangle) but its didn't show in the chart today. If the gap do exist, that shows an "Island Reversal" pattern (bigger outline purple rectangle) which is a sign of reversal. So from that point of view, I came out with an alt count (white colour). As long the price not breaking the major bullish critical line, a Bearish Continuation scenario would still be valid and later going down to complete wave v and c. Otherwise if the point is taken, the market might be in Bullish Reversal trend (alt count -white). Preferable - Retracement Continuation until further notice.
 
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Market in small correction phase which I believed will going up again to complete wave 5 and iv. Watch closely the upper triangle trendline. Looking for a breakout before making any decission or entry. Unless the price break 205.43, the bullish retracement continuation would still be valid. Preferable - Bullish Retracement Continuation.
 

Live Forex Chart

Currency
Rates
EUR / USD
1.14250
USD / JPY
157.245
GBP / USD
1.32505
USD / CHF
0.82827
USD / CAD
1.41455
EUR / JPY
179.652
AUD / USD
0.70550
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