Wednesday, April 19, 2017

#GBPJPY Short Term Elliott Wave Update

#GBPJPY Short Term Elliott Wave Update

Trade Thoughts - Long Against 135.59

Targets - Above 148.45 and possibly 163.89, the previous 4th wave high.

The GBPJPY and GBPUSD both had a nice move up yesterday but are near or at resistance level and due for a retrace before higher.  The GBPJPY looks like it could retrace back to the 137.00 area for a wave 2.  The 61.8% retrace is at 137.287 and also an area that needs some back fill before moving higher.  

I will be looking for longs on this pullback since I missed the first entry.  


GBPJPY Short Term Elliott Wave Count

GBPJPY Short Term Elliott Wave Count
GBPJPY Short Term Elliott Wave Count