Elliott Wave Analysis: GBPJPY In A Triangle; Possible Weakness Can Be In The Cards

Elliott Wave Analysis: GBPJPY In A Triangle; Possible Weakness Can Be In The Cards

18 May 2016, 18:07
Roberto Jacobs
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Elliott Wave Analysis: GBPJPY In A Triangle; Possible Weakness Can Be In The Cards

GBPJPY is quite interesting to watch for a potential trade. As we se price is trading in a sideways large range consolidation which as well might be a triangle with wave E soon to be completed. We believe that price may reach 160 region, where Fibonacci ratio of 61.8 can react as a resistance and a turning point lower into wave 5).

GBPJPY, 4H

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