Menu

GBP/JPY Elliott Wave Forecast 9th February, 2018

× Alert!
  • - Can't withdraw your funds from this fraudulent company?
  • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
  • - Or is there an excessive delay in processing your withdrawal?
  • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:


Click the button below, fill out the form to recover your lost funds from this scam company


Click Here To Recover Your Stolen Funds

GBP/JPY Elliott Wave Forecast 9th February, 2018

GBP/JPY Elliott Wave Forecast

GBP/JPY Elliott Wave Forecast in 15 Minutes chart

The bullish trend is present in GBP/JPY currency pair, 15 minutes time frame based on GBP/JPY Elliott Wave Forecast. As I have forecasted few hours ago, the price of GBP/JPY pair is going to rise up now on a short-term basis to prints a Bullish Impulse Elliott wave pattern and traders should look for a buy trade. So, all those Forex traders who have followed my analysis have made the right decision as price has ascended.

Strong key support level is present at 150.82 price area which is the originating point of bullish wave W leg. In my judgment, price action in GBP/JPY currency pair is now falling down to prints a Bearish Zig Zag corrective wave X leg. So, market is going to remain sideways. Next, expect a bullish wave Y Elliott wave pattern which looks in-complete. Based on Elliott wave analysis, the current bullish price action is the Bullish Double Zig Zag corrective wave pattern which is part of a higher degree corrective Bullish Wave c pattern – wave 4.

Currently, Bullish Impulse Elliott wave pattern wave Y looks in-complete. So, a good idea is to look for a possible buy trading chance to join an up trend around 151.50 price area. However; if the price of GBP/JPY currency pair breaks below 150.82 vital support level then up trend is going to end. In such a market scenario, it would be best not to trade the Forex market and re-do the GBP/JPY Elliott wave analysis in fifteen minutes chart.

If you are a trader who prefer to use robots and EAs to automate your trades and make them very profitable for you or require very good forex/stock training resources, please check this page.

Now, at this point; I must acknowledge that the trend is actually bearish in higher time frame of GBP/JPY currency pair.

GBP/JPY Elliott Wave Forecast in 4 Hours chart

Below is the 4 hours chart of GBP/JPY pair with my Elliott wave analysis which shows us a big picture and a well started bearish trend as well.

Try SMARD today, it is a bot designed for crypto traders and investors which uses advanced algorithms to profit from market fluctuations. No programming or trading knowledge is required to start. The algorithm relies on momentum effect strategies to systematically identify market winners. Below are the key reasons why everyone loves Smard.club:    1. You get up to 5% average monthly return on your starting capital.    2. The 10% monthly service fee is charged from your profits only. They don't make money unless you do!      3. You can start with as little as $1000 in your exchange account, meaning that you just need to connect your existing exchange (or open a new one) with Smard and begin trading right away!    4. No upfront payments for the service.    5. It's a smart way of investing in your favourite crypto coins - btc/altcoins, hurdling them while at the same time growing their values through auto-trading instead of just buy and forget.   Operating through API keys, SMARD ensures secure connections without requiring fund transfers to third parties. No upfront payment or card linking is needed. Try Smard today and see the real potential of your crypto portfolio, no upfront fees to pay!

Click Here To Sign Up Now

 

GBP/JPY Elliott Wave Forecast

To me; price is trying to complete the Bearish Running Triangle pattern. Now, market is moving sideways to complete the corrective wave 4 leg. The bearish wave 5 leg is the last and final decline in price action because after that I expect price action to prints a bottom. Within the Bearish Running Triangle pattern, all sub-waves must sub-divides into an impulse 3, 3, 3, 3 and 3 waves pattern.

The following Elliott Wave Bearish Running Triangle diagram shows us a completed Bearish Running Triangle Wave Pattern within the frame work of Elliott wave principle.

Bearish Running Triangle

Based on my GBP/JPY Elliott Wave Forecast in 4 hours chart, we have got an in-complete Bearish Running Triangle Pattern at wave 4 location. Now, price is probably going to move sideways and then falls more lower to complete the Bearish impulse wave 5 leg. To me; in fifteen minutes chart of GBP/JPY currency pair the bullish leg in price action is just a pull back in a down trend as mentioned above as Bullish Double Zig Zag corrective wave leg inside a 15 minutes price chart.

Strong key resistance level is present at 154.81 in GBP/JPY four hours chart. So, I expect market to first rise up to print bullish wave c leg and then falls down more to complete the rest of the triangle legs. So, in my opinion market is going to remain sideways and then resume the down trend in GBP/JPY currency pair, in 4 hours chart.

However; price should stays below 154.81 resistance area in 4 hours time frame to keep the down trend alive. A clear bullish break out in price action above 154.81 resistance area will end the down trend and in such a market scenario, it would be best not to trade the market and re-analyze GBP/JPY 4 hours chart.

Summary

Based on GBP/JPY Elliott Wave Forecast the trend is down in 4 hours chart and a good idea is to look for a sell trade around 153.65 price area, as price is going to drop more towards 150.95 but a clear bullish break out in price action above 154.81 vital resistance area will end the down trend. On a short term basis, it is a bullish trend in GBP/JPY 15 minutes time frame and a good idea is to take a buy trade around 151.50 price level and price is probably going to rise up towards 153.15 price level. However; if the price of GBP/JPY currency pair breaks below 150.82 vital support level then bullish trend is going to end. We recommend trading with these top-rated brokers when using our signals/analyses/forecasts as they handle your trades quicker and more efficiently with very low spreads and most of them have high trade execution rate.

One Reply to “GBP/JPY Elliott Wave Forecast 9th February, 2018”

  1. × Alert!
    • - Can't withdraw your funds from this fraudulent company?
    • - Have they asked you to pay excessive withdrawal fees or to deposit more funds?
    • - Or is there an excessive delay in processing your withdrawal?
    • - Are they trying to push you into depositing more money with them even without withdrawing the one you've already put in?

    It's a CONFIRMED scam company, recover your stolen funds by clicking the button below, then fill out the form and you will get a FREE Mychargeback consultation today:


    Click the button below, fill out the form to recover your lost funds from this scam company


    Click Here To Recover Your Stolen Funds

Leave a Reply

Your email address will not be published. Required fields are marked *

YouTube video

Follow Us

Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.