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Elliott Forecast

Eric Morera

Elliott Wave View: GBPJPY Looking for the Next Leg Higher

May 26, 2022 By

Short Term Elliott Wave View in GBPJPY suggests cycle from April 20, 2022 high has ended with wave ((2)) at 155.55. Pair rallies from that level building an impulsive structure as wave 1. Up from the wave ((2)), wave ((i)) ended at 159.24, pullback in wave ((ii)) ended at 157.40. Then pair rally in wave ((iii)) ended at 161.59, small pullback as wave ((iv)) finished at 160.91 and the last push to complete wave ((v)) of 1 ended at 161.86.

Pullback in wave 2 is currently in progress to correct wave 1. Internal subdivision of wave 2 is unfolding as a . Down from wave 1, wave ((a)) ended at 157.86 and corrective rally in 3 swings completed wave ((b)) at 161.02. Pair resumes lower and we are looking for an impulsive structure to complete wave ((c)). Down from wave ((b)), wave (i) ended at 157.97 and wave (ii) ended at 160.83. Wave (iii) is in progress lower as long as it stays below 161.02 wave ((b)). We should see 3 swings lower as waves (iii), (iv) and (v) to complete the impulse as wave ((c)) and the correction as wave 2. As we stay above 155.55 the pair should continue with the rally again.

GBPJPY 60 Minutes Elliott Wave Chart

GBPJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-gbpjpy-looking-for-the-next-leg-higher/

#elliottwave #trading #GBPJPY

26/05/2022 1 EN

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Elliott 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 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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