ew-forecast

GBPJPY UPDATE III: Price Continuing Higher

FX:GBPJPY   British Pound / Japanese Yen
As we can see on the updated chart from yesterday, we see that price made a nice correction in wave (iv), and then made a nice reversal higher near the 38.2 Fibonacci projection , which usually acts as a support and a turning point for fourth wave corrections. Anyhow we now believe price can still reach higher levels within blue wave iii             around the 1.618 and 2.0 Fibonacci ratio, before a possible higher degree correction can kick off.

http://www.ew-forecast.com
@ewforecast
Sign Up For A Crypto Currency PDF. report >>> https://goo.gl/j684B5 <<<

EW Service, Black Friday Offer -25% >>> https://ew-forecast.com
coming down on higher time frames nice pullback.
+1 Reply
I do not know anything about Elliott waves, but are you expecting the deeper correction to complete around the 138.0 area, as depicted on the chart? Also, do you consider the larger downtrend to be over? Thank you for your insight!
+1 Reply
Yes the higher degree correction of blue wave iv could complete around the area of a formal wave iv, meaning in our case around the 136.35 region. Regarding the higher time frames as Daily, GBPJPY could face a three wave bullish recovery, as we believe that larger downtrend is completed.
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out