GBPJPY a Slave to an Elliott Wave Pattern

On December 15th GBPJPY climbed to 148.45 – the culmination of a rally, dating back to October 7th, when the pair fell to as low as 122.64. Unfortunately, just when it seemed that the bulls are holding the wheel, the bears somehow managed to prevail and drag the rate 600 pips lower – to 142.48 as…

Read More »

Riding GBPJPY’s Post-Election Rally

GBPJPY bulls must be very pleased with what November brought them. The pair has been steadily rising since the U.S. election, which caused a decline to 126.70. Nine days later, today GBPJPY climbed to as high as 137.57 and is currently hovering around 137.10. Could this impressive rally be predicted, especially after the strongly negative…

Read More »

Riding GBPJPY’s Long Term Roller Coaster

GBPJPY topped at 195.87 in June, 2015. During the last one year, the pair lost over 67 figures, falling to as low as 128.76 last week. Prior to this crash, there was a strong rally from 116.83. So, a 79-figure bullish run was followed by a 67-figure sell-off. Well, the FOREX market could really be…

Read More »

GBPJPY Ready to Break the Consolidation?

GBPJPY has been moving sideways between 151.65 and 164.10 for more than three months now, which has probably made trading this pair extremely difficult. Just when you thought you finally know where GBPJPY was going, it decides to change its direction again. The best way to trade in such a directionless environment is to not trade at all…

Read More »

GBPJPY Is Sending a Bullish Message

GBPJPY bottomed at 154.70 on February 24th and managed to recover to 164.10, when the bears returned. The pair is currently trading slightly above 160.10, but what could we expect from now on? Is this just a pull-back or the resumption of the larger downtrend? The Elliott Wave Principle might help us find the answer.…

Read More »

GBPJPY Looks Filled With Doubts

Just as many other crosses, GBPJPY tends to make large movements in short periods of time. This week was no exception. The pair rose to 175.00 on Monday, but than fell to 170.02 so far. The real question we have to ask is whether the latest weakness is the resumption of the larger downtrend, which…

Read More »

GBPJPY: How Confirmations Pay Off

On December 9th we published “GBPJPY: What Is Next After The Target?” to show you two equally probable scenarios, which contradict one another. In other words, we admitted we did not know what was going to happen in GBPJPY next. However, we knew the exact moment when one of the two counts would be confirmed…

Read More »

GBPJPY: What Is Next After The Target?

Two days ago, on December 7th, we published “GBPJPY: Two Counts, One Direction” to prepare you “for a 220+ pip slump in GBPJPY”. While the pair was trading near 186.10, the Elliott Wave Principle suggested it was weaker than it appeared to be. There were not one, but two bearish wave counts, so we had no…

Read More »

GBPJPY: Two Counts, One Direction

GBPJPY bulls got discouraged near 188.80 on November 19th. The sell-off, which followed, led the pair to 184.32 just five days later. Since then the exchange rate has been very difficult to trade, making higher highs and lower lows all the time. However, it seems the market is finally giving us a clue on the hourly chart…

Read More »

GBPJPY In A Very Delicate Territory

GBPJPY began its impressive rally from around 117.00 in 2011-2012. The pair is now trading close to 192.00. Few were expecting such a performance three years ago. Just like few are expecting a decline today. But, as we have said many times, no trend lasts forever. Let’s take a look at the weekly chart of…

Read More »

GBPJPY In Final Stages Of Advance?

The pound proved to be one of yen’s strongest rivals in the last month and a half. The pair rose from below 175.00 to above 190. Despite today’s intraday weakness, the bulls still seem confident enough to continue the uptrend. But how higher should we expect the GBPJPY pair to climb? If we trust the Elliott Wave…

Read More »

GBPJPY In Bears’ Paws Again?

The Great Britain pound proved to be stronger than the Japanese yen after the FED’s minutes last week, when GBPJPY jumped sharply from 177.10 to 181.00. During the rest of the week the exchange rate did not leave this range. But let’s see what the chart can tell us, when looked at from the perspective…

Read More »

GBP JPY: Reversal Ahead?

The bulls took control of GBP JPY in the middle of October. The recent rally began from 168 and now, less than a month later, the pair is trading around 184. Are the bulls getting exhausted or the uptrend is set to continue? As always, the Elliott Wave Principle will help us answer this question. It…

Read More »

GBPJPY two days ahead of the news

Today, on October 31, 2014, the Central Bank of Japan announced that it will expand its stimulus program in order to prevent deflation. After the announcement the other currencies rose sharply against the Japanese Yen. Most people would say that BoJ’s decision was the reason for this. That is why they have been waiting for it in order…

Read More »

GBPJPY performing nicely

A week ago, on October 22nd, we published an analysis, called “GBP JPY to regain positive bias”, saying that we expect the uptrend to resume soon. We thought so, because the 15-min chart of GBPJPY was showing a perfect impulse to the upside, followed by a correction and according to the Elliott Wave Principle, prices…

Read More »