GBPJPY Bearish 5-3 structure
Happen to chance across GBPJPY charts. Looking very bearish with a 5-3 downward count.
We can count an implusive downward 5 move, and a corrective 3 move up. Prices seem to fit perfectly to fib levels and wave relationship, base on elliot wave theory. (I.e Wave 2 retracing to the end of wave 4)
Bearish under 151.2. We are looking to extend the five wave structure towards 139.6 at the bare minimum.
We can count an implusive downward 5 move, and a corrective 3 move up. Prices seem to fit perfectly to fib levels and wave relationship, base on elliot wave theory. (I.e Wave 2 retracing to the end of wave 4)
Bearish under 151.2. We are looking to extend the five wave structure towards 139.6 at the bare minimum.
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