GBP/JPY - Top in place at 175.39?GBP/JPY - Top in place at 175.39?

GBP/JPY top in place at 175.39?

All requirements for a top being in place at 175.39 has been fulfilled, all we need now is a break below support at 174.42, to give us the first strong indication, that the top is in place at 175.39.

That said, we have to respect the uptrend as long as support at 174.42 protects the downside. But even if support at 174.42 will be able to protect the downside for a new high above 175.39, the possible rally should be very limited.

My preferred count is that we already has seen the high for wave B of the flat correction and wave C is about to develop, but we need some hard evidence that the top is in fact in place. Once the top of wave B is confirmed look for a powerful decline in wave C to below 163.82.  

Felipe
2014-05-26
Hi,

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Felipe
Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane
Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...