GBPJPY

The formation of the GBPJPY pair hints at a large triple zigzag of the primary degree, consisting of sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. It is quite likely that the development of the second intervening wave Ⓧ has started. This is similar to the…

EURUSD hovers under psychological resistance The euro bounced back after the core PCE of the US stayed subdued in May. After rallying above 1.1910, price action has turned this former resistance into a support base. The current…

The GBPJPY currency pair seems to be forming a cycle wave y, which takes the form of a double zigzag. On the chart, we could see the structure of the last actionary wave Ⓨ of the primary degree, which hints at a simple (A)-(B)-(C)…

The market continues to move within the final part of a long bullish combination of Ⓦ-Ⓧ-Ⓨ zigzags. The chart shows the last wave Ⓨ of this combination. After the full completion of the impulse (A) and the corrective wave (B), we saw the…

EURUSD retraces to major support The euro pulled back after the block’s CPI dropped to 0.8% in April. Though the pair maintains its bullish trajectory from the daily chart’s perspective, a healthy pullback seems necessary for buyers to…

On the 1H timeframe of the GBPJPY currency pair, we see the final part of a large cycle wave y. It takes the form of a double zigzag. The final primary wave Ⓨ is currently under development. The wave Ⓨ is a standard zigzag (A)-(B)-(C),…

AUDUSD tests key support In Australia’s worse-than-expected retail sales, traders saw not a reason to dump, but rather an opportunity to get in for cheap. After the RSI shot into the overbought territory post-FOMC, the indicator…

USDCHF remains in bearish trend Despite the recent short covering, the US dollar would need a stronger argument to make a meaningful U-turn. Massive liquidity from the $1.9 trillion stimulus package, which is expected to pass sooner…

USDCHF Surges Backed by Robust Jobs A combination of fundamental and technical factors have put the US dollar in demand lately. Last Friday’s positive NFP number may have offered the buyers more assurance, as improvement in the job…

The GBPJPY pair currently shows a bullish intervening wave X of a cycle degree. This takes the form of a triple Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ zigzag of the primary degree. The first four sub-waves are already fully complete, whereas the final actionary…