GBPJPY Daily and Weekly Analysis 15 ~ 19 June 2009 |
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Could we see evening star pattern at daily GBPJPY or false evening star? If evening star appear at daily time frame, we might see major reversal pattern and GBPJPY might test all support level and to see further downside GBPJPY need to break last support level at 158.73 (Figure 1). |
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Figure A : Further downside GBPJPY need to break support level at 158.73 |
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However if false evening star pattern appear at daily time frame, history will repeat again and GBPJPY might test equidistant channel around 165.83 . On 31 May 2009 false evening star pattern appear at daily time frame (Figure 2).
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Figure B : False evening star |
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| Elliott Wave Analysis |
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Figure C : GBPJPY Elliot Wave Analysis |
Time : 3:29 PM EDT, Date : 14 June 2009 |
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