GBPJPY Can Be Eyeing 190 AreaSep 18, 2023

GBPJPY can be eyeing 190 area, as we see an unfinished five-wave bullish cycle from technical point of view and by Elliott Wave theory.

GBPJPY pair has recently moved to a new high, after coming higher out of wave (4) running a triangle pattern at the start of 2023, so it’s ideally trading in final wave (5) od C of B. However, there can be still room for another push higher as the current recovery from 158 is an incomplete impulse.

It’s ideally now slowing down within subwave 4 of (5) before a continuation higher for wave 5 of (5). The first support is at 180, and then the second at 176.50 for a flat.

GBPJPY Can Be Eyeing 190 Area GBPJPY Daily Chart
GBPJPY Daily Chart

Basic Elliott Wave impulse is strong and impulsive movement, which should be completed by five waves in different degrees.

GBPJPY Can Be Eyeing 190 Area Basic Elliott Wave Impulse
Basic Elliott Wave Impulse

Become a premium member

Get daily Elliott Wave updates for some major Digital currencies, FIAT currency markets, major stock indexes, gold, silver, crude etc. or apply for unlimited access to the Elliot Wave educational videos.

What is next for the USD vs CAD and MXN?. Check our latest quick video analysis HERE.


Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

By continuing to use the site, you agree to the use of cookies. Learn more.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.