GBPJPY daily chart wave count
Currently trading wave 2 in monthly timeframe, this subdivided in daily ABC
It is analog to the 1-2 wave made in 2012 before the rally
In this correction
wave A was completed from 196 to 180
wave B was from 180 to 189
wave C is unfolding in ABC .... this one wave A from 189 to 152, wave B is currently trading
The question now is if wave B is complete, 2 options
option 1) BoJ selling was a mini wave B, then we can expect a recovery towards 168 for a better selling level
option 2) wave B is complete then a move below 152 would confirm selling entry
This is 2 trades:
Short at 168 or short below 152 for a target of 130
Currently trading wave 2 in monthly timeframe, this subdivided in daily ABC
It is analog to the 1-2 wave made in 2012 before the rally
In this correction
wave A was completed from 196 to 180
wave B was from 180 to 189
wave C is unfolding in ABC .... this one wave A from 189 to 152, wave B is currently trading
The question now is if wave B is complete, 2 options
option 1) BoJ selling was a mini wave B, then we can expect a recovery towards 168 for a better selling level
option 2) wave B is complete then a move below 152 would confirm selling entry
This is 2 trades:
Short at 168 or short below 152 for a target of 130
