GBPJPY Is Heading Lower In Three Waves.

GBPJPY has just completed a five-wave impulse to the upside and according to EW principle, a three-wave correction follows every impulse sequence.

If this count is correct, a decline to the previous fourth wave low is plausible in circled wave iv.

Do you think bears will take over on GJ? Let me know in the comment.
Thanks for reading!