The current GBPJPY structure resembles a standard Ⓐ-Ⓑ-Ⓒ zigzag pattern. Primary waves Ⓐ and Ⓑ are fully complete. Wave Ⓐ is a 5-wave impulse and wave Ⓑ is a double zigzag. Primary wave Ⓒ, on the other hand, is only partially complete. Its formation points at an ending diagonal. With 4 parts of the 5-wave pattern having been confirmed at wave (4) already, the intermediate zigzag wave -wave (5) – could carry prices up to the 139.69 resistance. This is where the intermediate wave (3) has registered a high. An alternative scenario suggests that the GBPJPY structure is a triple zigzag consisting of primary waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ. (full story)