My analysis of the GBPJPY forex pair is as follows:
1. Market Structure: I have identified the primary wave structure, marked in red on the chart. The corrective wave structure, labeled 0A-BC and marked in blue, is also evident. By employing additional techniques, I anticipate that the correction will conclude at the designated point C.
2. Price Action Momentum Channel: On the chart, I've identified a bearish momentum channel. I anticipate that the price will reach the lower boundary of this channel, and this could present an opportunity for buyers to enter the market.
3. Fibonacci Analysis: I've identified significant price reaction zones using Fibonacci analysis. In conjunction with other analytical methods, I predict that the price will react notably at two critical levels, particularly in the presence of substantial economic news.
4. Indicator, volume histogram & RSI analysic.
Thank you for considering this analysis.
1. Market Structure: I have identified the primary wave structure, marked in red on the chart. The corrective wave structure, labeled 0A-BC and marked in blue, is also evident. By employing additional techniques, I anticipate that the correction will conclude at the designated point C.
2. Price Action Momentum Channel: On the chart, I've identified a bearish momentum channel. I anticipate that the price will reach the lower boundary of this channel, and this could present an opportunity for buyers to enter the market.
3. Fibonacci Analysis: I've identified significant price reaction zones using Fibonacci analysis. In conjunction with other analytical methods, I predict that the price will react notably at two critical levels, particularly in the presence of substantial economic news.
4. Indicator, volume histogram & RSI analysic.
Thank you for considering this analysis.