empty
 
 
01.06.2022 06:10 AM
Elliott wave analysis of GBP/JPY for June 1, 2022

This image is no longer relevant

We continue to look for more downside pressure as the correction from 168.43 persists, but as it's the case with X and B-waves all possible options are open. That means we could see a peak near 164.25 or maybe see a flat correction that would see a peak near 168.43. Will an expanded flat develop for a peak near 173.22? Only time will tell, but a break below minor support at 160.94 will confirm that ten X-wave has completed and renewed downside pressure towards 150.09 should be expected.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback