I had a request for GBP/JPY and my opinion. As can be seen on the chart above, my count shows, that we currently is in a wave 4 correction, which ideally will find support near the bottom of wave iv of one lessor degree. The bottom of red wave iv comes in at 139.18 however, a slightly deeper correction towards 137.60 should not be ruled out. Once the ongoing wave 4 is over we should see wave 5 take us higher towards at least 150.19 and likely even higher towards 153.61 and maybe even 157.07 before wave 5 is in place.
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