The GBP/JPY pair has just completed a 5-wave downtrend, which ended around early April. Since then, the price has been moving higher in what appears to be a typical A-B-C corrective pattern — a common move that occurs after a major downtrend in Elliott Wave Theory.
We are currently in the final wave (C) of this correction, and within that, it appears that Wave 5 of C is now unfolding. This final wave appears to be nearing its end, and the price is approaching a strong resistance area between 196.813 and 197.513.
T1: 193.735
T2: 192.133
SL: 198.252
❌ Invalidation Level:
If the price closes above 198.252, this Elliott Wave count is likely wrong. That could mean the market is preparing for a bigger rally instead.
We are currently in the final wave (C) of this correction, and within that, it appears that Wave 5 of C is now unfolding. This final wave appears to be nearing its end, and the price is approaching a strong resistance area between 196.813 and 197.513.
T1: 193.735
T2: 192.133
SL: 198.252
❌ Invalidation Level:
If the price closes above 198.252, this Elliott Wave count is likely wrong. That could mean the market is preparing for a bigger rally instead.
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For Premium Research and Elliott wave Guidance: t.me/warlockmd
相關出版品
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。