Elliottwave-Forecast

GBPJPY Looking to Extend Higher in Impulsive Structure

FX_IDC:GBPJPY   British Pound / Japanese Yen
Cycle from 12.14.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 12.14.2023 low, wave (1) ended at 188.93 and pullback in wave (2) ended at 18522. Internal subdivision of wave (2) unfolded as a zigzag structure. Down from wave (1), wave A ended at 187.1, wave B ended at 188.56, and wave C lower ended at 185.22 which completed wave (2). Pair then rallied higher in wave (3). Up from wave (2), wave ((i)) ended at 187.73 and pullback in wave ((ii)) ended at 186.15.

Pair resumes higher from wave ((ii)). Up from there, wave (i) ended at 186.78 and wave (ii) ended at 186.16. Wave (iii) higher ended at 188.48, wave (iv) ended at 188.21 and wave (v) ended at 188.86 which completed wave ((iii)). Pullback in wave ((iv)) ended at 187.84. Pair has resumed higher in wave ((v)). Near term, as far as pivot at 185.22 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.

14 days trial --> elliottwave-forecast.com/amember/go.php?r=2670&i=l3 and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.