Elliott Wave Analysis: GBPJPY Trading In A Temporary Correction

GBPJPY may be trading at the beginning of a three wave correction, now in wave a. As such after wave a finds bottom a new bounce into wave b may follow. Later the mentioned wave b may see limited upside around the 139.90 level, from where a new drop into the following wave c may follow. Support for the whole corrective retracement may later be around the 138.29 level.

GBPJPY, 1H

GBPJPY

 


 

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