Daily GBP/JPY analysis

Price droped from this trendline few days ago for about 160 pips. Sell order @ 132.15. SL - 45 pips.

http://img15.imageshack.us/img15/6127/gbpjpyd1.png

Regards,
suirad

long term charts show a bit more upside to the pair over the next year.

At this moment, a significant breakout is still yet remain to be seen to determine which alt count that is in favour. Preferably, I'm looking forward for a potential strong breakout toward the major red lower trendline and pivot critical line to bolster the bearish reversal trend scenario in aqua. Otherwise, please be careful for any bounce scenario later. Good luck.

At this moment, I believe market already in bearish reversal trend scenario. But please be noted that I'm expecting market will perform a bullish retracement trend scenario to complete subwave iv in yellow with condition subwave iii is already completed. Otherwise, we may see another bearish continuation trend scenario to complete an extension of subwave iii in aqua before any potential bullish retracement trend scenario. Good luck.

At this moment, I believe market in progress to complete subwave iv either refering to the alt counts in yellow or aqua. Therefore, I'm looking forward for a potential bearish continuation trend scenario to complete subwave v in C later. A pullback and follow by a breakout toward the pivot critical line would bolster to this scenario. Otherwise, this scenario would invalid if market further break the aqua/yellow critical line. Good luck.

Please be noted that the previous alt counts in aqua and yellow is already invalid. At this moment, I believe market in progress either to complete subwave iv in yellow or subwave ii in aqua or subwave i in white. Therefore, I'm expecting market will later perform another bullish continuation trend scenario to complete the respective alt counts wave. Happy weekend and good luck.

pivot: 131.85 Short positions below 131.85 with targets 131 & 130.6 in extension.
Above 131.85 look for further upside with 132.2 & 132.6 as targets.
the pair and its intraday RSI have broken below their rising trend lines
Key levels
132.6
132.2
131.85
131.3 last
131
130.6
130.25
more... http://www.fecima.com/201101286858/T...-pressure.html

Still Strongly Bullish !

Bullish? If it breakes 131 It could go down 100 pips at least. On a daily also to consider 200 MA.
In my results there is still 53% selling on this cross. GBP still Strong, this is true. Will wait till something will change on the market.

Very strong resistance at 131. Ill still wait for the setup on this pair.

At this moment, I believe market in bullish continuation trend scenario either to complete corrective wave b (yellow or aqua) or motive wave 5 (white). A breakout toward the S3 critical line would bolster to the alt count in yellow bearish reversal trend scenario. Otherwise, we may see a bullish continuation trend scenario to complete subwave v in aqua or subwave iii in white. I hereby also would like to take this opportunity to wish a Happy Chinese New Year 4709, wish u and your family a year filled with prosperity, good health and happiness. Happy holiday and good luck.

Preferably, I believe market in progress to perform a "bull trap" scenario either to complete subwave v/b in aqua or yellow before expecting a bearish reversal trend scenario. Therefore, advisable to look for any good opportunity toward a bearish reversal entry signal from BSTS later. Otheriwise, please be careful for any potential toward a strong bullish continuation trend scenario in white. Good luck.

Favourably, I believe market in progress to perform a bearish reversal trend scenario either refering to the alt counts in yellow or aqua. Please be careful for any potential toward a bullish retracement trend scenario to perform subwave 2 later. Otherwise, we may see a horizontal triangle corrective pattern abcde in 4 refering to the alt count in white which would favour toward a potential bullish continuation trend scenario to complete major wave 5. Please be careful for NFP annoucement at 9.30pm tonight (GMT +8). Happy weekend and good luck.

At this moment, I'm looking forward for a potential bull trap scenario to complete subwave v/b in yellow before expecting toward a potential of bearish reversal trend scenario. Please be noted that market also have strong potential toward a another bullish continuation trend scenario to complete subwave 3 in 5 refering to the alt count in white. A valid "ascending triangle" bullish continuation pattern would bolster to this scenario. Good luck.

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At this moment, please be noted that the previous alt count in aqua is already invalid. Favourably, I'm looking forward for a potential bearish reversal trend scenario refering to the alt count in yellow. A valid "bull trap" scenario and a breakout toward the S3 critical line would bolster to this scenario. Otherwise, we may see another bullish continuation trend scenario to perform the incomplete or major wave 5 in white. Good luck.

Preferably, I believe market have a good potential to perform a bearish reversal trend scenario either refering to the alt counts in yellow or aqua. A pullback from the pivot critical line and follow by a breakout toward the S3 critical line would bolster to this scenario. Otherwise, please be careful for any breakout toward the yellow critical line. Good luck.

At this moment, a breakout to the pivot critical line and major lower red trendline is still yet remain to be seen to determine that market in favour toward the bearish reversal trend scenario. Otherwise, I believe market will perform a bulltrap scenario refering to the alt count in aqua. Good luck.

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