Price corrected to the touch the Inner D1 TL (aqua). With proper signs of rejection, I'll be looking to get long and continue up to the 127.2 level based off the AB=CD Pattern.
Although the overall trend is bearish (observe to downward sloping black W1 TL), this index seems to be in a counter-trend ascending channel (or rather, forming a Bearish Flag). From the inherent inverse correlation with the Japanese Yen, I expect to see all XXX/JPY rally higher as the Yen weakens. Upon a break and close beneath this channel (lime), I expect to...
Here we have GBPJPY going long after a bounce of the Bullish D1 TL (aqua). I'm looking to target the 165.750 area for profit taking.
If the index rejects this Bearish D1 TL, I am expecting all USD/XXX pairs to drop soon afterward.
Here we had several indications pointing to this currency pair going bullish. Price failed to break the 17.5000 Monthly Key Level of Support then formed a Double Bottom. As you can see, the most recent reaction of note occurred when price broke out of the Bullish Flag (formed by the two aqua Bearish D1 TLs) and closed above only to rally towards the 18.0000...
Here you can see a completed Bearish Gartley on the 4-hour timeframe. Look to short this position within the tight PRZ. Target the 38.2 and 61.8 levels of the C-D structure...then look forward to price rallying upward.