GBP/JPY - The ideal 147.00 target is now within reach

GBP/JPY - The ideal 147.00 target is now within reach

GBP/JPY - The ideal 147.00 target is now within reach

GBP/JPY - The ideal 147.00 target is now within reach

GBP/JPY - The ideal 147.00 target is now within reach 

The ideal target near 147.00 is now within reach.

The cluster of calculation that yields the 147.00 target indicates that this should be a support to be reckoned with. The most important calculations are the 61.8% corrective target of the rally from 116.82 to 195.88, which is seen at 146.80. Calculating the target for wave (v), the 38.2% target of the distance traveled from the top of wave (i) at 195.88 to the bottom of wave (iii) at 151.63 subtracted from the top of wave (iv) yields exactly 147.00.

The bottom of wave 4 of the rally from 118.77 to 174.85 is seen at 147.06, so we should expect support at 147.00 to be a force to reckoned with and likely being able to terminate the long term correction for a new impulsive rally that ultimately will take out the 2015 top at 195.88.

When a 1+ is highlighted in the right hand corner, more charts is available, in this chart-pack 4 charts can been seen. To see the other charts, click on the chart, which blows it up and in the center part at the bottom a control panel will be highlighted. Use the arrow to see the additional charts.

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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
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani
Darryl
2014-09-14
Love the good work, most accurate I’ve found in my research. Darryl