{"id":14030,"date":"2025-07-18T19:37:44","date_gmt":"2025-07-18T19:37:44","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=14030"},"modified":"2025-07-18T19:37:47","modified_gmt":"2025-07-18T19:37:47","slug":"200-wall-184-fall-gbpjpy-diagonal","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/","title":{"rendered":"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary:<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>GBPJPY shaping a diagonal pattern.<\/li>\n\n\n\n<li>Large bearish reversal could push down to 184.<\/li>\n\n\n\n<li>Above 202.40 voids the pattern as labeled.<\/li>\n<\/ul>\n\n\n\n<p>I typically don&#8217;t conduct Elliott wave analysis on cross pairs simply because they are the children of the two main currencies involved. GBPJPY is the child of GBPUSD and USDJPY.<\/p>\n\n\n\n<p>With that said, I still scroll through charts looking for compelling patterns and GBPJPY caught my attention.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"746\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY_2025-07-18_14-16-24-1024x746.png\" alt=\"\" class=\"wp-image-14031\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY_2025-07-18_14-16-24-1024x746.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY_2025-07-18_14-16-24-300x218.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY_2025-07-18_14-16-24-768x559.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY_2025-07-18_14-16-24.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>First, it&#8217;s knocking on the door of 200&#8230;a nice round number for <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">resistance<\/a>.<\/p>\n\n\n\n<p>Secondly, the rally from 184 in April to now appears to be a very mature <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave ending diagonal pattern<\/a>. The Elliott wave diagonal pattern is similar to common technical chart pattern like the <a href=\"https:\/\/alchemymarkets.com\/education\/strategies\/rising-wedge-pattern\/\">rising wedge<\/a>.<\/p>\n\n\n\n<p>Diagonals shape in 5 waves. Remember, wave 3 cannot be the shortest of waves 1,3,5. Since wave 3 is shorter than wave 1, that means wave 5 cannot be longer than wave 3.<\/p>\n\n\n\n<p>So we simply measure out wave 3 using the <a href=\"https:\/\/alchemymarkets.com\/education\/indicators\/fibonacci-extensions\/\">100% Fibonacci extension<\/a> level and apply it to the end of wave 4, and, voila, we have a maximum target for wave 5 at 202.40.<\/p>\n\n\n\n<p>That maximum target doesn&#8217;t mean GBPJPY has to go that high, but this market is ripe for a large bearish turn. If GBPJPY does push above 202.40, then my wave labeling is incorrect.<\/p>\n\n\n\n<p>Ending diagonals tend to be fully retraced which implies a decline back to 184.<\/p>\n\n\n\n<p>GBJPY may dance around in the 199 handle for a day or two.<\/p>\n\n\n\n<p>A break below 199 could be an early warning signal of the bearish reversal. A break below the blue support trend line adds more confirmation to the bearish reversal.<\/p>\n\n\n\n<p>If this bearish reversal takes hold, then GBPUSD or USDJPY likely experience a large decline too as they are the \u2018parents\u2019 of GBPJPY.<\/p>\n\n\n\n<p><strong><em>You might be interested in&#8230;<\/em><\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-alchemy-markets wp-block-embed-alchemy-markets\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"L407Z6K9FM\"><a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q3-2025-usd-relief-from-oversold\/\">Q3 2025 Forecast: USD Looks For Relief From Oversold Conditions<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;Q3 2025 Forecast: USD Looks For Relief From Oversold Conditions&#8221; &#8212; Alchemy Markets\" src=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q3-2025-usd-relief-from-oversold\/embed\/#?secret=3Rc6Nb10x2#?secret=L407Z6K9FM\" data-secret=\"L407Z6K9FM\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.<\/p>\n","protected":false},"author":160,"featured_media":14034,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-14030","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal - Alchemy Markets\" \/>\n<meta property=\"og:description\" content=\"The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/\" \/>\n<meta property=\"og:site_name\" content=\"Alchemy Markets\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-18T19:37:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY-Elliott-wave-featured-image-July-18-2025-1024x683.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"683\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Gesch\u00e4tzte Lesezeit\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 Minuten\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal - Alchemy Markets","description":"The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/","og_locale":"de_DE","og_type":"article","og_title":"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal - Alchemy Markets","og_description":"The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.","og_url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/","og_site_name":"Alchemy Markets","article_modified_time":"2025-07-18T19:37:47+00:00","og_image":[{"width":1024,"height":683,"url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY-Elliott-wave-featured-image-July-18-2025-1024x683.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Gesch\u00e4tzte Lesezeit":"2 Minuten"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/","url":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/","name":"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal - Alchemy Markets","isPartOf":{"@id":"https:\/\/alchemymarkets.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/#primaryimage"},"image":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/#primaryimage"},"thumbnailUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY-Elliott-wave-featured-image-July-18-2025.png","datePublished":"2025-07-18T19:37:44+00:00","dateModified":"2025-07-18T19:37:47+00:00","description":"The GBPJPY Elliott wave analysis shows an ending diagonal pattern appearing near 200. If this is correct, then GBPJPY may trend lower to 184.","breadcrumb":{"@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/#breadcrumb"},"inLanguage":"de-DE","potentialAction":[{"@type":"ReadAction","target":["https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/"]}]},{"@type":"ImageObject","inLanguage":"de-DE","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/#primaryimage","url":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY-Elliott-wave-featured-image-July-18-2025.png","contentUrl":"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/07\/GBPJPY-Elliott-wave-featured-image-July-18-2025.png","width":1536,"height":1024},{"@type":"BreadcrumbList","@id":"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/200-wall-184-fall-gbpjpy-diagonal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/alchemymarkets.com\/"},{"@type":"ListItem","position":2,"name":"Market Insights","item":"https:\/\/alchemymarkets.com\/education\/market-insights\/"},{"@type":"ListItem","position":3,"name":"200 Wall, 184 Fall: GBPJPY Elliott Wave Diagonal"}]},{"@type":"WebSite","@id":"https:\/\/alchemymarkets.com\/#website","url":"https:\/\/alchemymarkets.com\/","name":"Alchemy Markets","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/alchemymarkets.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"de-DE"}]}},"_links":{"self":[{"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/market_insights\/14030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/market_insights"}],"about":[{"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/types\/market_insights"}],"author":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/users\/160"}],"replies":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/comments?post=14030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/media\/14034"}],"wp:attachment":[{"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/media?parent=14030"}],"wp:term":[{"taxonomy":"market_insights_categories","embeddable":true,"href":"https:\/\/alchemymarkets.com\/de\/wp-json\/wp\/v2\/market_insights_categories?post=14030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}