From what I see, GJ is in its 3 Wave. It could reverse at the 1.1618 Fib Extension and retrace down to the price area of Wave 1. Overall this pair is bullish, but some pips can be made on the downside if you are ok with the risk. Check out the chart. Let me know what you think.
Elliott WaveGBPGBPJPYjpyTrend AnalysiswaveWave Analysis

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