GBPJPY - short-term buy

GBPJPY is likely to have completed wave 4. Under Elliott wave principle, wave 4 should not overlap with wave 1. ABC correction as wave 4 probably ended with the top of wave 1 and 200 SMA (1 hour chart) providing support. This is short-term buy. I will close as soon as wave 5 seems completed or the price does not react as I expect.

[GBPJPY 1 hour chart]