Daily GBP/JPY analysis

At this moment, I believed market either in progress to complete :-

1) Magenta : Bearish retracement trend perform subwave ii in 2 before expecting for another bullish continuation trend. A bounce scenario from the lower white trendline would bolster towards this alt count. or

2) White : Bearish retracement trend to perform wave 2. A further breakout towards the magenta critical line and lower white trendline would bolster this scenario. or

3) Yellow : Bearish retracement trend to perform major corrective wave b (double bottom or triple bottom). A breakout towards the white critical line would favour this scenrio.

Please confirm each scenario from BSTS and any breakout/bounce later. Good luck.

Please be noted that unless the lower red trendline is remain intact, I believed we shall see another bearish continuation trend either to complete wave 2 in white or corrective wave b in yellow. A further breakout towards the lower white trendline would bolster this scenario. Otherwise we may see a bullish continuation trend to complete subwave iii in magenta. Please be careful for NFP announcement tonight at 9.30 pm (GMT +8). Good luck and happy weekends.

We had a breakout and a move up to 141.47 before retracing to a bit lower than 61.8% Fibonacci level before resuming its uptrend. 141.47 would now be the initial target level which would also try to resist the up move. Above that we have 141.75 which is a level we would be glad to breakout of as this will increase the probability that our targets for the Inverse Heads & Shoulders pattern is met.

At this moment, I'm loooking forward for any possibility towards a bearish continuation trend and a breakout to the lower white trendline to bolster the alt count in yellow scenario. But please be careful for any ascending triangle pattern that would favour to the alt count in magenta for bullish continuation trend scenario. Good luck.

Please be noted that even though market is already break the lower white critical line but the magenta critical line is remain intact. Preferably, I'm looking forward for another bearish continuation trend either to complete wave 2 in white or corrective wave b in yellow before expecting for a bullish reversal trend to complete wave c (1H) in 4 (weekly). Good luck.

Preferably, I'm looking forward for a bearish continuation trend to complete either wave 2 in white or major corrrective wave b in yellow. A further breakout to the magenta critical line would bolster this scenario. Otherwise, please be careful for any bullish continuation trend and a breakout to the upper green trendline. Good luck.

Please be noted that I believed the alt count in magenta is already invalid. Preferably, I believed market in bearish retracement trend to perform major corrective wave b either a double bottom or triple bottom scenario. But please be careful for any possibility of bullish continuation according to the alt count in white. A further breakout to the white critical line would bolster the bearish retracement trend scenario. Good luck.

At this moment, please analyse the latest possible alt counts. Please be noted that if the upper green trendline is taken, then I believed market may in progress to complete subwave b in magenta. Preferably, I'm looking forward for another bearish continuation trend refering to the alt count in yellow. Good luck.

Favourably, I'm looking forward for another bearsh continuation trend either referring to the alt count in yellow or magenta. A pullback from the upper green trendline would bolster towards the alt count in yellow. Otherwise, if taken then I believed market in progress to complete subwave b ib magenta. But please be careful for any bullish continuation trend according to the alt count in white. Happy weekends and good luck.

Please be noted that the previous yellow alt count is already invalid. Therefore I did some recounts and please analyse the latest possible alt counts and critical lines. Favourably, I'm looking forward for a bearish retracement trend to perform major corrective wave b either referring towards the alt counts in yellow or magenta. Good luck.

http://forex.sunstation.com/pics/gbpjpy_mar16.gif

Sir, what do you suggest for the next 12 hours? Long? what TP? Please explain.

As I can see it - if it wont shoot straight up - it will test 134.02 area.

I don't think so m8, first up target is 139.xx then 140.xx and first down target is 137.7x then 135.xx but 134.02 is too far at least for couple of days....

Preferably, I'm looking forward for a bearish retracement trend either to perform wave ii in white or wave i in yellow. But please be careful for any bullish trend and any breakout to the magenta critical line. Good luck.

At this moment, I'm still looking forward for any bearish trend either to perform subwave ii in white or wave i in yellow. Otherwise, we may see another bullish trend to complete wave b in magenta. Good luck.

Preferably, I'm looking forward for further bearish continuation trend either to complete subwave ii in white or subwave i in yellow. A further breakout towards the lower red trendline and white critical line would bolster to the alt count in yellow. Otherwise, we may see a bullish continuation trend once wave ii (white) is completed. Good luck.

Unless market break to the upper green trendline and magenta/yellow critical line, favourably I believed market will perform a bearish continuation trend either referring to the alt count in magenta or yellow. A further breakout to the lower red trendline and white critical line would bolster towards the alt count in magenta. Otherwise a bounce scenario from the lower red trendline would favour toward the alt count in yellow. Good luck.

At this moment, market in still inside the teal triangle pattern. Favourably, I'm looking forward for a bearish continuation trend and a breakout towards the lower red trendline to bolster the bearish retracement trend scenario to perform major corrective b (yellow). But please be careful for any breakout towards the upper green trendline to perform either subwave ii in magenta or subwave iii in white. Happy weekends and good luck.

Please be noted that price already break the upper green trendline. Favourably, I believed market in progress to perform either subwave ii in yellow or corrective subwave b in magenta before expecting for another bearish retracement trend to complete major corrective wave b. But please be noted that this scenario is invalid if the price break the yellow and magenta critical line respectively. Otherwise, market will perform a bullish continuation trend to perform subwave iii in white. Please refer BSTS to confirm either scenario and trend. Good luck.