#GBPJPY Short Term Elliott Wave Update
Trade Thoughts - Long Against 135.59
Targets - Above 148.45 and possibly 163.89, the previous 4th wave high.
The GBPJPY and GBPUSD both had a nice move up yesterday but are near or at resistance level and due for a retrace before higher. The GBPJPY looks like it could retrace back to the 137.00 area for a wave 2. The 61.8% retrace is at 137.287 and also an area that needs some back fill before moving higher.
I will be looking for longs on this pullback since I missed the first entry.
GBPJPY Short Term Elliott Wave Count
|GBPJPY Short Term Elliott Wave Count|