GBP/JPY Forecast - BOJ Press Conference
GBP/JPY is about to have Big Swings.
BOJ (Bank of Japan) Press Conference is approaching, on the 16th March, right after the FED's Rate Decision.
GBP/JPY's Wave Count is showing short-term weakness towards 132.80 Levels.
After Minor Wave 3 (green) finalized with Brexit and Flash-Crash, GBP/JPY has started the Corrective 4th Minor Wave (green) which is expected according to the Fibonacci Expansion projections to end at the 158.00 Levels, inside Minuette (iv) (pink) territory, which is also a Major Vibration Level and price is drawn towards it.
Minor 4 (green) developed so far with 5 Waves Structure (dark blue) in Minute A (light blue), followed by the Correction Minute Wave B (light Blue), which is still developing and about to have a Bearish Breach towards Minuette (c) (black), caused by the ABCDE Subminuette (green) Triangle Formation within Minuette (b) (black).
GBP/JPY is expected to be Bearish short-term and Bullish medium-term.
SELL Entry:
Aggressive - 139.500
SL - 142.400
TP - 132.820
BUY Entries:
Moderate - 132.820
SL - 128.900
Conservative - 132.820
SL - 124.00
TP 1 - 148.00
TP 2 - 158.00
BOJ (Bank of Japan) Press Conference is approaching, on the 16th March, right after the FED's Rate Decision.
GBP/JPY's Wave Count is showing short-term weakness towards 132.80 Levels.
After Minor Wave 3 (green) finalized with Brexit and Flash-Crash, GBP/JPY has started the Corrective 4th Minor Wave (green) which is expected according to the Fibonacci Expansion projections to end at the 158.00 Levels, inside Minuette (iv) (pink) territory, which is also a Major Vibration Level and price is drawn towards it.
Minor 4 (green) developed so far with 5 Waves Structure (dark blue) in Minute A (light blue), followed by the Correction Minute Wave B (light Blue), which is still developing and about to have a Bearish Breach towards Minuette (c) (black), caused by the ABCDE Subminuette (green) Triangle Formation within Minuette (b) (black).
GBP/JPY is expected to be Bearish short-term and Bullish medium-term.
SELL Entry:
Aggressive - 139.500
SL - 142.400
TP - 132.820
BUY Entries:
Moderate - 132.820
SL - 128.900
Conservative - 132.820
SL - 124.00
TP 1 - 148.00
TP 2 - 158.00
Trade closed manually:
sell position closed in small profit
Trade closed: target reached
