GBPJPY (Supply and Demand, Elliot Wave, Zones)

Zones:
GBPJPY is a very beautiful example to see how the market moves. It moves in waves and from zone to zone. You can see on the charts all important zones.

Elliot Wave:
Regarding to Elliot Wave we can see that Wave 5 nearly ended. I expect one push to the upside to complete it. From there we have 2 options because we could be still in Wave 3. If that is the case. Price will make a correction and afterwards it will go up higher.

Supply and Demand:
Supply and Demand is very nice to identify which direction the market moves. It depends on the Price Action when price is at these Zones. Based on that you notice which directions it will go.

2 Options:
1) First option will be that the price will go up again to the Supply Zone and then it will drop.
2) The second option will be a push through the Supply Zone. Afterwards a Retest and then it will push higher.

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