Hello everyone, Brian here! Let's take a closer look at GBPJPY today!
Currently, this currency pair has maintained a rising trend over the past several days. The price is now orbiting around the 194.800 mark, completing a five-wave Elliott sequence. I expect some adjustments soon, as there are signs that a new peak might be forming, and a retest of the EMA 34 and 89 lines may be necessary.
My target area is around 193.200, which aligns with the 0.5 - 0.618 Fibonacci retracement levels. What are your thoughts?
Currently, this currency pair has maintained a rising trend over the past several days. The price is now orbiting around the 194.800 mark, completing a five-wave Elliott sequence. I expect some adjustments soon, as there are signs that a new peak might be forming, and a retest of the EMA 34 and 89 lines may be necessary.
My target area is around 193.200, which aligns with the 0.5 - 0.618 Fibonacci retracement levels. What are your thoughts?
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