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Veejahbee

GBPJPY MARKET STRUCTURE LINED UP WITH ELLIOT WAVE SETUP

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British Pound / Japanese Yen (FX:GBPJPY)  
Veejahbee  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis GBPJPY gbpjpyshort gbpjpylong gbpjpybearish gbpjpysell gbpjpysetup GBP elliotwaveanalysis elliotwavecount
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trendanalysis chartpattern waveanalysis gbpjpy gbpjpyshort gbpjpylong gbpjpybearish gbpjpysell gbpjpysetup gbp elliotwaveanalysis elliotwavecount
This analysis shows an example of how Elliot Wave forecast used to line up with other technical indicators.

Here I'm anticipating a sell-off in GBPJPY to complete a regular Elliot Wave pattern. This pattern is most likely to complete within the blue box on the chart.
As you can see, the blue zone lined up with minor demand/support zone, the third bounce of ascending trendline, and 50-61.8% Fibonacci ratio.

I will keep eyes on it to see how it played out!
What is your bias on GBPJPY? Let's chat in the comment!

Best,
Veejahbee.

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