GBP/JPY Elliott Wave Analysis
GBP/JPY, nicknamed 'The Beast' or 'The Dragon,' is one of the most volatile major cross pairs. It can move 200+ pips in a single session.
GBPJPY Elliott Wave: Wave 4 Bounce Before Final Drop
GBP/JPY wave structures are aggressive, Wave 3 extensions frequently exceed 200%. Due to high volatility, Wave 2 retracements tend to be deeper (61.8%-78.6%). Position sizing is critical.
Key levels at 180.00, 185.00, 190.00, 195.00. Average daily range of 150-200 pips requires wider stops.
Only trade GBP/JPY Wave 3 setups with confirmed Wave 2 completions. The volatility rewards patience but punishes premature entries.
H4 Wave Count
4-hour timeframe for precise entry timing
Daily Wave Count
Primary trading timeframe structure
Weekly Wave Count
Macro context and trend direction
Fibonacci Targets
Precise price targets from wave structure
Invalidation Levels
Exact price where the count is wrong
Alternative Scenario
What happens if the primary count fails
New to the method? Read the Elliott Wave forex guide or brush up terms in the Elliott Wave glossary.
Get Daily GBP/JPY Analysis
Updated before London open, every trading day. H4, Daily, and Weekly wave counts with precise Fibonacci targets.