Two days ago 1/19/17 I posted a 240 minute chart of GBPJPY which illustrated a clean Elliott five waves up from the bottom at 136.472. Subsequently, the five waves up has completed and the decline after the peak so far has been very shallow.
Daily MACD has just recorded a bullish cross over, RSI and Stochastic are only in neutral.
The combination of wave pattern and momentum indicators suggest GBPJPY is in a powerful rally.
Get long now use 137.50 as the stop loss.
Minimum upside target is 148.00, GBPJPY could go much higher.
Mark
Daily MACD has just recorded a bullish cross over, RSI and Stochastic are only in neutral.
The combination of wave pattern and momentum indicators suggest GBPJPY is in a powerful rally.
Get long now use 137.50 as the stop loss.
Minimum upside target is 148.00, GBPJPY could go much higher.
Mark