GBPJPY set for a possible riseRevised Analysis with Projections
1. Current Ichimoku Cloud (Kumo) Analysis:
Kumo Future Projection:
The cloud ahead is green, signaling bullish potential.
The cloud is flat on the top, indicating possible resistance near 194.9.
Support levels sit at 192.9 based on the bottom of the cloud.
Price Action:
Price is trading near the Kijun-sen (red line) and above the cloud base, a neutral to slightly bullish signal.
A pullback to the Kijun-sen around 193.8 or cloud support at 192.9 is possible before a move higher.
2. Ichimoku Wave Theory (N-Wave and P-Wave):
The N-Wave:
An A-B-C-D wave formation is developing:
A: 192.2 (recent low on Dec 5th)
B: 194.9 (recent high)
C: 193.0 (potential support pullback zone)
D: Projection upwards to 196.0 (extension of AB leg if the uptrend resumes).
Projections:
Take-Profit 1 (194.9): Expected within 8-12 hours (2-3 candles on the 4-hour chart).
Take-Profit 2 (196.0): Expected within 20-28 hours (5-7 candles).
3. Ichimoku Time Theory (Kihon Suchi):
Time cycles suggest possible turning points every 9, 17, or 26 candles:
The recent uptrend began around Dec 8 (approx. 7-9 candles back).
The next time window for reversal or continuation is around Dec 15-16.
A breakout above 194.9 or below 193.0 is likely to occur within this timeframe.
4. Trade Setup with Projections:
Buy Entry: Near 193.3-193.8 (pullback to Kijun-sen).
Stop-Loss: Below 192.9 (below cloud support).
Take-Profit 1: 194.9
Time Projection: Within 8-12 hours.
Take-Profit 2: 196.0
Time Projection: Within 20-28 hours.
Conclusion:
The trend is bullish-neutral with a higher probability of continuation if support holds.
Watch for a decisive break above 194.9 for confirmation of bullish momentum.
Projected Timelines:
194.9: 8-12 hours.
196.0: 20-28 hours.
