Currency
Long

DON'T TRY TO SHORT THE GBPJPY RIGHT NOW

FX:GBPJPY   British Pound / Japanese Yen
162 0 4
The GBPJPY             is definitely making an impulsive move up in a C wave. It is now in wave III             of 3, the meat of the move, and will soon make a significant correction after completing wave V of 3. You can try to short this pair in wave 4, something that is tricky and counter-trend, or you can buy the break out for wave 5 (better to go WITH the trend). The end of wave 5 is calculated to be near a harmonic price confluence of wave A and between wave 3 and 5. Only then will I start to look for sell setups. This view is in line with my longer time outlook on this pair, which sees the pair making an X-wave pull back to test the trendline from way above.
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