Excalibur-vin618
Short

[UK session]Wave 4 confirmed, GBPJPY Goving Down

FX:GBPJPY   British Pound / Japanese Yen
GBPJPY             formed 5 wave structure in 30 minutes chart, confirmed wave 4 near 148.5 today, heading down in uk session.

If structure goes well, 145 may be the ultimate goal.

But given the situation that Japan is holding presidential election, which may not that easy to move that far.So technically, u can watch out levels near 147, since price broke the small neckline of double top .
refusing to drop and getting on my nerves....
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Excalibur-vin618 Sierra117_Jon
@Sierra117_Jon, I've mentioned in last paragraph that it requires some FA factors to drive prices move a rather long distance. eg, warfare or bad news during negotiation with EU.

Wehn u see the same hourly chart closely,pirce begins to consolidate, but still under pressure at around wave 4 level.

GBP started to rebound due to weak usdolloar,also boosted the GBPJPY.

So wave analysis gives us some reference on the crucial levels, but if price fails to move as u planned, take actions accordingly.


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