GBPJPY Long term wave analysis

10小时前

Based on Annual chart wave analysis

The large period that connects the whole from the 1970s is trendless.

Annual chart environment.
1. Above the 2009 return L high.
2. Up trend.
3. Above MA Sma20 and Ema 26.
4. Candle above the neck YSR. (Year Support and Resistance)

As there is no prominent SR when rising, it is assumed that it will rise to the trend line.

6M chart
The selling pressure of the 6M candle is currently moving above the SR due to the bounce from below.
We can confirm that the price rose after establishing a zone base of 12345 as a foothold.(W bottom)

3M
Above the YSR.
We can confirm that the 01/07/24 candle is being pushed back, and it seems that strong buying momentum is continuing.
Strong buying momentum continues as an uptrend Yet.. The current candle is being pushed back into the neck zone SR of 6m and 3m 3M (remaining November and December) possibly be pushed back toward the YSR as a correction wave.

Month.
The monthly candlestick is moving above the YSR due to the MA rebound.
It can be confirmed that the trend line was broken during the decline. As of 15/11/2024, the monthly chart has been pushed back within the parent (Dominant) wave SR, 6m, and 3mSR, so it appears that the strong uptrend has been stalled for the time being.

Prediction.
Long,
It is desirable for the monthly candlestick to move and close above the parent wave SR, 6m, and 3mSR.

Short
If this month's monthly chart closes at a negative line, it may be possible to consider aiming for a short on the YSR.

Additional information.
To check the price movement for the next two months, it is necessary to check the shape of the candlesticks below the monthly chart.

Best.