Elliott Forecast - lliott Wave View Looking for Zigzag Correction in GBPJPY

Report

Elliott Forecast

Eric Morera

lliott Wave View Looking for Zigzag Correction in GBPJPY

Short Term Elliott Wave view in GBPJPY shows decline from 10.30.2024 high ended at 188.14 as wave 1. The decline unfolded as a 5 waves diagonal Elliott Wave structure. Pair has turned higher in wave 2 to correct this 5 waves decline. The internal subdivision of wave 2 rally is unfolding as a zigzag Elliott Wave structure. Up from wave 1, wave i ended at 191.53 and wave ii ended at 190.3. Wave iii higher ended at 192.2, wave iv dips ended at 190.91, and final wave v higher ended at 192.37. This completed wave (i) in higher degree.

Pullback in wave (ii) ended at 190.58. Pair has rallied higher in wave (iii) towards 193.4 and pullback in wave (iv) ended at 192.44. Final leg wave (v) ended at 195 which completed wave ((a)) in higher degree. Pullback in wave ((b)) is in progress to correct cycle from 12.3.2024 low. Internal subdivision of the pullback is unfolding as a zigzag structure. Down from wave ((a)), wave (a) ended at 192.91. Expect wave (b) rally to fail below 195 and pair to turn lower in wave (c) to complete wave ((b)). Near term, as far as pivot at 188.14 stays intact, expect pullback to find buyers in 3, 7, 11 swing for more upside.

GBPJPY 60 Minutes Elliott Wave Chart

GBPJPY Elliott Wave Video
/yBmKBmnk8LM
Source:-forecast.com/news/elliott-wave-view-looking-zigzag-correction-gbpjpy/

13/12/2024 1 EN

Provider

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.

See profile

Analysts

Eric Morera

Other Reports from Elliott Forecast

Eric Morera

Eric Morera

Elliott Wave View: EURUSD Short Term Remains Bearish

Short Term Elliott Wave view in EURUSD suggests the decline from 9.25.2024 high is in progress as an impulse. Down from 9.25.2024 high, wave 1 ended at 1.076 and wave 2 rally ended at 1.0936. Pair then resumed lower in wave 3 towards 1.033. Corrective rally in wave ended at 1.063 as the 1 hour chart below shows. Pair still needs to break below 1.033 to rule out any double correction possibility. Wave 5 lower is currently in progress with internal subdivision as a 5 waves impulse. Down from wave 4, wave (i) ended at 1.0539 and rally in wave (ii) ended at 1.0594. Wave (iii) lower ended at 1.0...

December 20, 2024 December 20, 2024 1 EN

Eric Morera

Eric Morera

SUI Expecting The Final Bullish Wave To Break Above $5

Since our previous Video blog about SUI, the coin rallied more than 900%. Therefore, we’ll be looking at the daily Elliott Wave Structure and explain the current structure within the cycle. The recent daily rally started in August 2024, SUI established an impulsive 5 waves structure to the upside within wave ((3)). In addition, it reached the 1.618 Fibonacci extension area around $4.7 before ending the cycle. The coin, is currently showing 3 swings from all time lows and consequently it’s expected to finish 4th swing pullback then start another 5th swing to the upside. The current correc...

December 20, 2024 December 20, 2024 2 EN

Eric Morera

Eric Morera

Elliott Wave View Expects NZDUSD to Extend Lower

NZDUD decline from 10.1.2024 high is in progress as an impulse Elliott Wave structure. Down from 10.1.2024 high, wave 1 ended at 0.6049 and wave 2 rally ended at 0.6119. Pair then resumed lower in wave 3 towards 0.5813 and wave 4 ended at 0.5928. Currently wave 5 is in progress with internal subdivision as another impulse as the 1 hour chart below shows. Down from wave 4, wave ((i)) ended at 0.5801 and wave ((ii)) ended at 0.5888. Pair has resumed lower in wave ((iii)). Down from wave ((ii)), wave (i) ended at 0.5758 and rally in wave (ii) ended at 0.5817. Pair then nested lower with wave ...

December 19, 2024 December 19, 2024 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

lliott Wave View Looking for Zigzag Correction in GBPJPY

Elliott Wave View: EURUSD Short Term Remains Bearish

SUI Expecting The Final Bullish Wave To Break Above $5

Elliott Wave View Expects NZDUSD to Extend Lower

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe