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Elliott Forecast

Eric Morera

Elliott Wave View: GBPJPY Rally Expected to Fail

March 9, 2022 By

Short Term Elliott Wave View in GBPJPY suggests the decline from February 11, 2022 high is in progress as a . Down from February 11 high, wave (1) ended at 153.32 and rally in wave (2) ended at 155.23. The 45 minutes chart below shows the internal subdivision of wave (2) unfolded as an expanded Flat structure. Wave A of (2) ended at 155, wave B of (2) ended at 152.64, and wave C of (2) finished at 155.26.

Wave (3) is now in progress as another impulse in lesser degree. Down from wave (2), wave ((i)) ended at 154.54 and rally in wave ((ii)) ended at 154.22. Pair then resumes lower in wave ((iii)) towards 151.44, and wave ((iv)) ended at 152.23. Final leg lower wave ((v)) ended at 150.95 which should complete wave 1 in higher degree. Near term, wave 2 rally is ongoing to correct cycle from March 3 peak in 3 or 7 swing. Up from wave 1, wave ((a)) ended at 151.93 and dips in wave ((b)) ended at 151.35. As far as pivot at 155.26 high remains intact, expect rally to fail in the sequence of 3, 7, or 11 swing for further downside.

GBPJPY 45 Minutes Elliott Wave Chart

GBPJPY Elliott Wave Video

Source:-forecast.com/news/elliott-wave-view-gbpjpy-rally-expected-to-fail/

#elliottwave #trading #GBPJPY

14/03/2022 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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