GBPJPY shows 5 waves of the lows, more upside after 3 waves back
Elliott wave theory suggest that after a 5 waves move (unless 5 waves complete wave C of a FLAT structure), there should be a 3 waves pull back and another 5 waves move in the same direction higher. So after finishing the first leg higher in wave ((i)), pair should see a 3 swing pullback soon today before another extension higher happens in 5 waves as far as pivot at 1/16 low (136.42) remains intact.
$GBPJPY 1 hour chart
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