• 12 hours Big Business’ New COVID Initiative: No Jab, No Job
  • 3 days The Most Interesting Stocks Of Earnings Season, For Better or Worse
  • 5 days Chinese Stocks Rebound After Regulatory Scare
  • 6 days Apple Stocks Falls After Blowout Earnings Report
  • 6 days The 5 Biggest IPO Disasters Of 2021
  • 7 days Crypto-Based ‘Shadow Financial Market’ Spooks Regulators
  • 10 days Ireland Balks At Biden’s Global Tax Plan
  • 13 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 17 days Facial Recognition Is Watching You
  • 18 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 18 days The Fed’s $3 Trillion Headache
  • 21 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 22 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 22 days Delta Variant Real Threat To Economic Recovery
  • 25 days JEDI Drama Continues With Microsoft Contract Cut
  • 27 days DiDi Shares Take a Beating From Chinese Regulators
  • 28 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 29 days Jobs Report Has Big Numbers, But Still Big Problems
  • 29 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 33 days Didi Just Went Public, And Uber Is Loving It
Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast

Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to…

Contact Author

  1. Home
  2. Markets
  3. Other

GBPJPY Elliott Wave Analysis: Bearish Below 143.9

Short term GBPJPY Elliott Wave view suggests the decline from 5/10 high shows a 5 swing sequence, thus favoring more downside. Decline from 5/10 high is unfolding as a double three Elliott Wave structure. Down from 5/10 peak (148.11), Minor wave W ended at 141.47 and Minor wave X ended at 143.96. Minor wave Y is currently in progress and has scope to retest 4/16 low (135.58). Support can be seen at 135.7 – 137.3 area for at least 3 waves bounce.

Subdivision of Minor wave Y is proposed to be unfolding as a triple three Elliott Wave structure. Down from 6/1 peak (143.96), Minute wave ((w)) ended at 140.68, Minute wave ((x)) ended at 142.77, Minute wave ((y)) ended at 139.52 and Minute second wave ((x)) is in progress as a flat and expected to complete at 140.2 – 14.1.2 area. While near term bounce stays below 142.75, and more importantly below 143.95, expect pair to extend lower. We don’t like buying the pair.

GBPJPY 1 Hour Elliott Wave Chart

(Click to enlarge)

Back to homepage

Leave a comment

Leave a comment