Daily GBP/JPY analysis

i think....target......have a look, you wouldn't believe me if i said it, cause it's way the hail down there. what would the fundamentals be like if that major low shows?

i don't beleive in fundamentals with this one trading instrument.....pair from hail

Favourably, I'm looking forward for a bearish trend to perform subwave iii in white. Otherwise, please be careful for any breakout towards the upper green trendline and possibility to a "bull trap" scenario in magenta. Good luck.

I agree with your analysis but it would appear you have posted the wrong charts.

Triangle on GBPJPY on 4H. I rather to wait any breakout/break down before considering any trade.

http://i593.photobucket.com/albums/t.../21dec2009.gif

Please be noted that the previous alt count in white is already invalid. Favourably, I believed market just performed a "bull trap" scenario which consist of a corrective abcde in diagonal triangle pattern. Therefore, I'm still looking for a possible bearish trend to be perform later. Otherwise, please be careful for any breakout towards the upper green trendline and magenta critical line. I also would like to take this opportunity to wish everybody a very Merry Christmas and a Happy New Year. See you all and I'll be back after holidays. Take care....

Contrary to popular opinion, this pair usually respects support and resistance levels. We are in a downtrend and we might be wondering, when we draw our levels, why 147 was not respected recently. My theory is the NFP figures were released. They were the most encouraging for some time and gave a boost to the USD and USD/JPY.

The very next Monday this pair dropped to 147 again and on the Tuesday fell right through the floor.

Chart:




Now the dust has settled and we have tested that level three times in the last few days. This time with bearish divergence. It's not the best time to be trading but I am bearish.

Hourly chart:

Thank you very much ahhhh...

I think this is could be the beginning of resumption of long downwards trend (I'm seeing hidden bearish divergence on monthly chart)

Thank you for your valuable and consistent analysis. Have a good break.

yes, thanks for keeping elliott wave analysis "seeable" at the drop of a hat! just come by this thread for a looky~!

Has a double top formed on the four hourly?

Gbp vs Jpy (1H) - Please be noted that due to the strong bullish trend, therefore I have to do a recount towards the bearish possible alt counts. Preferably, I'm looking forwards for a valid rising wedge pattern that would bolster towards the bearish continuation trend scenario (yellow trendlines). A pullback from the upper yellow trendline would bolsters to this scenario. Please be careful since market may have a possibility to perform a corrective wave abcde in magenta.

Gbp vs Jpy (Daily) - At this moment, market already touched the upper trendline of the bearish channel in daily. Favourably, I'm looking forwards for a pullback scenario either to perform corrective wave c in white or wave iii in magenta. Otherwise, please be careful for a breakout from the upper green trendline.

AUD (Daily) - Preferably, I believed market already in bearish reversal trend either towards the alt counts in magenta or white. Please be careful for any bullish retracement trend to perfom major corrective wave B either in whte or magenta.

Eur vs Usd (Weekly) - Preferably, as long the white critical line is remain intact, I believed market will perform a major bearish reversal trend scenario to perform a major corrective wave C (white) in 5 bearish wave structures. At the moment, I believed market in progress to complete subwave i. Therefore, advisable to look for any good bearish entry once market perform a bullish retracement trend to perform subwave 2 later. Good luck and Happy New Year.

Gbp vs Jpy (1H) - At this moment, I believed market either in progress to perform subwave 1 in white or subcorrective d in magenta. Therefore, please be careful for any bullish retracement trend scenario. Otherwise, please be careful for any possibility towards a bullish trend refering to the alt count in yellow.

AUD (Daily) - At this moment, I believed market in progress to perform major corrective wave B either in white or magenta. A pullback from the upper green trendline and later a breakout towards the bearish continuation critical line 1 would bolster towards the alt count in white scenario. Otherwise, please be careful for any breakout towards the upper green trendline either to perform a "double top" corrective wave B in magenta or another bullish rally to complete major wave 5 in yellow. Good luck.

Gbp vs Jpy (1H) - Favourably, I'm looking forward market to perform a bearish trend in white to complete wave 3. A breakout towards the pivot critical line and lower red trendline would bolster towards this scenario. Otherwise, please be careful for another bullish rally perhap to perform corrective wave e in magenta.

Aud vs Usd (Daily) - Preferably, I believed market will perform a bearish reversal trend in white. A strong pullback from the upper green trendline would bolster towards this scenario. Otherwise, please be careful for any bullish rally perhaps to complete the unfinish corrective wave B in magenta.

Aud vs Cad (Daily) - Favourably, I'm looking forward for another bearish continuation trend scenario either to complete subwave v/A in white or yellow. Otherwise, please be careful for any breakout towards the dotted green horizontal critical line.

Usd vs Cad (Daily) - I believed market will perform a bullish reversal trend scenario in 5 bullish wave structures to perform a major corrective wave C in yellow. Therefore, advisable to loog for any opportunity towards a bullish reversal trend entry signal from BSTS. Otherwise, please be careful for any breakout towards the red horizontal critical line. Please be careful tonight for NFP news announcement at 9.30 pm (GMT +8). Good luck and happy weekends.

I am still very new to forex... I am using a demo account and it is really like gambling since I don't really know what I am doing.. Some of you on this thread seem to be masters of technical analysis...

If you were to make a check list for the GBP/JPY before entering a trade, what would be on your list of your top 10 check list.

Thanks for the education
Pair Me UP

Jebatfx
Member

First, Your trendline drawing is incorrect, but you might be right here

Consolidation?

Gbp vs Jpy (1H) - At this moment, I'm looking forward for a breakout to the lower yellow trendlines to bolster towards the bearish continuation trend to perform subwave 3 in white. Otherwise, please be careful for any breakout towatds the pivot critical line.

Aud vs Usd (Daily) - I believed market will perform a major bearish reversal trend scenario to complete major corrective wave C in 5 bearish wave structures. Otherwise, please be careful for another bullish rally perhaps to perform a "bullish trap" scenario for corrective wave B in magenta.

Aud vs Cad (Daily) - Preferably, I'm looking forwards for a major bearish reversal trend scenario either in yellow or white (triple top) to perform major corrective wave in C. Please be careful for any breakout towards the yellow critical line.

Usd vs Cad (Daily) - I believed market will start to perform a major bullish reversal trend to complete major corrective wave C in 5 bullish wave structures. But please be careful for any bearish retracement trend scenario to perform subwave 2 later.

Summary - Please make your own trading plan and try to wait and find for any possible "Sell Top" or "Buy Bottom" entry from BSTS later. Good luck.

Gbp vs Jpy (1H) - At this moment, I'm looking forwards for another bearish continuation trend scenario to complete wave 3 in white. But please be careful for any possibility towards a bullish retracement trend scenario to perform subwave ii in white before expecting for another bearish continuation trend.

Eur vs Usd (Weekly) - At this moment, I believed market in progress to perform a major corrective wave C either in white or magenta. Please be careful for any possibility towards a bullish retracement trend to perform subwave in white. Favourably, I'm looking forwards for a further bearish extension of subwave 1 in magenta before expecting for any bullish retracement trend scenario. Good luck.

At this moment, I'm looking for a bearish reversal trend scenario (diagonal triangle pattern) at tf M30 either in white or magenta. Therefore advisable to look for any good opportunity towards a bearish entry from BSTS later. A false breakout scenario and a pullback from the upper green trendline would bolster towards this scenario. Otherwise, please be careful for any breakout towards the white critical line. Good luck.