GBP/JPY moving lower to 169.45

GBP/JPY moving lower to 169.45

We have finally seen the break below the channel support-line at 171.35, which confirms that wave C lower to at least 163.28 longer term.

We saw the top of the impulsive rally from mid-January 2012 at 117.26 at 174.85 in early January 2014 and has since seen an expanded flat correction unfolding. Wave B of this correction, did break slightly above the origin of wave A and therefore this correction is an expanded flat. Wave C should at least see a decline to 163.28 where wave C will be equal in length to wave A and wave C should unfold in an impulsive manner (five wave decline).

Short term we should see a break below 170.52 call for a decline to 169.45, but that should just be a minor stop on the way lower towards 163.28.

Jonathan
2017-10-24
Your work is exceptional and glad I found you.
Felipe
2014-05-26
Hi,

I recently tried a 30 day membership and I am very happy with the service. Pls keep up the great work!!! I will continue renewing!!

Felipe
Duane
2014-08-29
Hey EWS,

Great work on the GBPCAD and the NZDCAD. These are the type of opportunities that I am looking for, monthly turns caught with daily or hourly entries. Easy money!!

Duane