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Elliott Forecast

Eric Morera

Elliott Wave View : GBPJPY Expect Short Term Upside

April 15, 2022 By

Short term Elliott Wave view in GBPJPY suggest that it can rally higher towards 165.99 – 168.15 area to end wave 5 of (5) before start correcting lower in 3, 7 or 11 swings, while dips remain above 164.00 low of wave 4. The pair is currently within wave (5) of started from 3/29/2022 low. Minor wave 1 of (5) ended at 161.306 high and wave 2 ended at 160.48 low. Then it resumed higher in wave 3 in which, minute degree wave ((i)) ended at 162.279 and wave ((ii)) ended at 161.38 low. Wave ((iii)) rallied higher and favored ended at 164.078 high and wave ((iv)) ended at 163.38 low. Finally, wave ((v)) ended at 164.882 high, which completed wave 3 in minor degree. Below there, it ended wave 4 at 164.00 low.

Currently, wave 5 is in progress within intermediate degree wave (5) and expect short term strength towards 165.99 to finish the impulse sequence. After finishing impulse, it expect to pull back in 3, 7 or 11 swings in higher degree to correct the cycle up from December-2021 low. Short term, the pair showing momentum divergence, which suggest that chasing at current level is risky as it may end soon.

GBPJPY 45 Minutes Elliott Wave Chart

GBPJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-gbpjpy-expect-short-term-upside/

#elliottwave #trading #GBPJPY

15/04/2022 1 EN

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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 thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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