Daily GBP/JPY analysis

Apart from the failed equities rally on the 17th - 24th October GBP/JPY has been confined to this neat H4 channel. Today the upper channel resistance was rejected almost to the pip. The wavy blue line is the 200 ma. Not been near there for a while.

Hmm.

At this moment, price still at the upper green diagonal triangle trendline and I'm looking forward for a true breakout to perform subwave 1 in yellow to bolster the bullish reversal trend scenario. Otherwise, market may go to the downside either to perform corrective subwave b in white or subwave 5 in magenta. Good luck and happy weekends.

At this moment, price already near to the major upper green trendline and favourably, I'm looking for a true breakout to perform subwave 1 (white or yellow) in a to bolster the bullish reversal trend scenario. But please be careful for any pullback or bearish continuation trend (magenta). Good luck.

At this moment, price already break the major upper green trendline and a bullish critical line 1 and preferably, I'm looking forward for a further breakout to the major bullish continuation critical line 1 to bolster the bullish reversal trend scenario to perform subwave 1 (white or yellow) in corrective wave C. But please be careful for any bearish retracement trend or bearish continuation trend. Good luck.

At this moment, I believed market in bullish reversal trend to perform subwave 1 (yellow) in c before expecting a bearish retracement trend to complete subwave 2. But, please be careful for any bearish retracement referring to the alt count in white or bearish continuation trend referring to the alt count in magenta. Good luck.

Until now, price still above the lower red trendline and favourably, I'm looking for further breakout to the upside to bolster the alt count in white. Therefore, please watch closely the dotted green horizontal line and the magenta critica line. Otherwise, we may see a breakout to the lower red trendline either to complete subwave 2 in yellow or subwave 5 in magenta. Good luck.

At this moment, please be noted that the alt count in white is already invalid. Therefore, please be noted that either we shall see a bullish reversal trend once sunwabe 2 in yellow is completed or a further bearish continuation trend to complete subwave 5 in magenta. Please confirm either alt counts from BSTS later. Good luck.

Until now, market either in progress to complete corrective abcde in iv before expecting for another bearish continuation either to perform subwave 2 in white or wave 5 in magenta OR subwave 2 in yellow is already completed (subwave v in 2 is trncated) and looking forward for a bullish reversal trend scenario. Please watch all critical lines for any breakout. Good luck.

Please be noted that the alt count in yellow is already invalid. Therefore, market is either in progress for bullish reversal trend (white) or bearish continuation trend (magenta). A valid triple bottom pattern would bolster the bullish reversal trend while a further breakout to the downside would bolster the bearish continuation trend scenario. Please be careful. Good luck and happy weekends.

gbpjpy - target 134,00 or even 132,50

eur/gbp - still buy - target 0,9490

usd/gbp – inside trading day – going for a low at 1,5040 and back to 1,5120 next

At this moment, preferably I'm looking for an opportunity towards a bullish reversal trend referring to the alt count in yellow to perform subwave 1,2,3,4 and 5. But please be careful for any bearish continuation trend either to perform a bearish trap of corrective wave b in white or wave 5 in magenta. Good luck.

At this moment, I'm still waiting for any true breakout to determine which alt counts that is more favourable. Therefore, please watch closely all critical lines and trendlines for any strong breakout. Overall, I'm still looking for an opportunity for a bullish reversal trend as long the white critical line is remain intact. Good luck.

At this moment, price already made a weak breakout to the upper green diagonal triangle trendline, and therefore I'm looking forward for a further upside trend to bolster the bullish reversal trend referring to the alt count in yellow. But, please be careful for any bearish trend either to perform corrective wave b in white (bearish trap) or wave 5 in magenta. Good luck.

At this moment, advisable to wait for any breakout from the teal triangle to determine which alt counts that is more in favour. Please watch closely all critical lines and wait for any good bullish reversal entry signal from BSTS later before making any entry. Good luck and I would like to wish a happy merry christmas.

Jeb, i really enjoy your charts. Thanks for sharing.

hi,

u're welcome. Good luck trading.

At this moment, I'm looking forward for a valid reversal diagonal triangle pattern to perform corrective a, b and c once wave 5 is completed (yellow or white or magenta). Advisable to look for any bullish reversal trend entry from BSTS later. But please be extra careful for any breakout to the bearish critical line. Good luck.

I believed market in progress to complete wave 5 (yellow or white) and I'm looking forward for a possibility towards the bullish reversal trend to perform corrective a, b and c. But please be careful for any breakout to the major bearish continuation critical line which would favour to the alt count in magenta. Good luck and I would like to wish to all a Happy New Year - 2009.

At this moment, I'm looking forward for a further upside trend to bolster the bullish reversal trend scenario either to complete corrective subwave a in yellow or white. But please be careful for either a bearish retracement trend to perform subwave 2 in a or major wave 5 in magenta. Good luck and Happy New Year.