GBPJPY 4H

On the previous publication we outlined Heads and Tails. two possible turn directions for British Pound Japanese Yen.
- Where Heads meant that price will breakout south of range to complete wave E of the ABCDE wave count.
- And Tails meant that the ABCDE wave count will become invalid and market will continue North in ranging channel.

Now wave E of ABCDE wave count, from 4H elevation, wave E is an impulse wave made of five impulsive wave counts.
- Wave 1 and 2 make the right shoulder of "Head and Shoulder" structure.
- Wave 4 is 38.2% correction of wave 3

Following recent breakout, its safe to say market is in the early stage of development of the final wave 5, where wave 5 shares the same bed as wave E.
Mareket is moving faster than I type,

Professionally Yours