GBPJPY 4 HR Elliott Wave Count
We have a nice looking 5 wave move down from the 147.963 high. This is followed by a 3 wave move up that was short of the 50% retrace so we do have to be careful of some type of flat here that spikes up above the b wave high and reverses lower again.
I am assuming with this count that the wave circle 2 is complete and the pair is starting a wave circle 3 lower for c of (b).
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| GBPJPY 4 HR Elliott Wave Count |