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Forex Trading Technical Analysis

Hello Traders I'm going to be analyzing the (GBPJPY)

I'm going to be analyzing the pound Yen starting on the monthly and working my way down to the one-hour time frame so in the pound Yen I still believe this is an uptrend for an I still think this is three ways down for the ABC of B I still think this is like a one-two and we're in wave three which I still don't even think is over I still think it's gonna go up and finish off to three four and five of wave C I still believe it's going to go up someplace around the 205 area

Weekly time frame on weekly time frame I think this is a one and a two and I think all these moves up to the upside are all just subdivisions of a big wave three I still don't see any reason to think that Wave 3 is over I don't see any struts a break or anything that would tell me that Wave 3 is over telling me that I am primarily still looking for Longs I'd sort of time face for the continuation of this big wave three most likely a Wave 3 of wave C just like I sold on the monthly time frame

In the daily time frame I was eventually thinking this move up right here would be a way B and it would go down again for wave C before it went up but on the daily time frame I do potentially see that it made three ways down so it very easily could just keep on going up from here and it may not even be a wave 5 honestly, it could just be a subdivision of a much bigger Trend like without soaring on the weekly and monthly time frame and may just keep on making higher highs and higher lows

I was thinking that this was a trend right here looks like a wave now I do potentially see three waves upright here which is why I think it could be way B and this move down actually could be the wave C and it could already be continuing the uptrend which at this point I think is probably the most likely scenario

if this really is like a wave a and this really is a b and this is a c like I was potentially originally thinking then it would probably do something like this making a positive move down the brake structure and then go down again for a c and then back up for the continuation of the uptrend

One hour time frame I mean this is a very very strong Trend we had CPI news for the Yen yesterday look at this ABC correction this was on the Yen news last night at around a little bit past midnight like 1 am UK time we had three waves down we had an impulsive rep right at the news that was an extremely clear end of a question and it's been spending up extremely strong evidence now I definitely wouldn't try to go long now but if I did see some sort of a three-way pullback and a possible move up I would go along again for potentially the continuation of the uptrend

If it is going to be a wave C of B then it would probably go up one more time to make a wave five turn down brake a structure so enough that it is a wave C of way B

I definitely wouldn't try to go sword unless I saw something like that because I think at this point it's probably more likely that it'll just keep on trending up making it higher highs and higher lows

Happy Trading Good Luck