GBP/JPY Big bullish wedge Formation (Nikita FX )
The targets of Big H&S & mini-H&S already have been met.
Now we are situated on wave 5-3( since 195.84)'s last portion with Big Green wedge
Formation.
Big wedge cross will be around the (117.28--118.78 support Line) on Jul.--Aug.
I would say GBP/JPY will make its wedge breakout at approx. 145.00. of wedge upper line.
Look at the present downward wave. It is still 9th wave since the Top(195.84). We need 11 swing
downward waves in total. Therefore SHORT for short term, and LONG for mid-term.
The target of wedge breakout (if 145.00), it will be at 166.11
Nikita FX (climbingfx.jugem.jp/ )
Now we are situated on wave 5-3( since 195.84)'s last portion with Big Green wedge
Formation.
Big wedge cross will be around the (117.28--118.78 support Line) on Jul.--Aug.
I would say GBP/JPY will make its wedge breakout at approx. 145.00. of wedge upper line.
Look at the present downward wave. It is still 9th wave since the Top(195.84). We need 11 swing
downward waves in total. Therefore SHORT for short term, and LONG for mid-term.
The target of wedge breakout (if 145.00), it will be at 166.11
Nikita FX (climbingfx.jugem.jp/ )
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.