Get started
lawlee9

GBPJPY - Building up for the long move before BOJ decision

Long
British Pound / Japanese Yen (FX:GBPJPY)  
lawlee9  
FX:GBPJPY   British Pound / Japanese Yen
Trend Analysis Wave Analysis Chart Patterns
6
1
trendanalysis waveanalysis chartpattern
We see price rejecting off the trendline twice now.
The two touches can be seen as an ABC correction of the previous move up (minor 4th wave of the major 3rd wave).
One more leg up to complete the 3rd wave, and then we'll see the big drive for the 5th wave up to the 88.6% after BOJ and UK news come out.
Looking for a big correction as well after.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.