Jan. 23rd – GBPJPY

With current price action and from looking at the RSI I dismissed the red count which was looking for a lower degree one two of wave v. Instead I would count v as in place, expecting the correction to still go higher.
The blue rectangle and the area of the four of one lesser degree could be a target. Notice how this would also go in line with the lower boundary of the corrective channel (grey line). RSI is showing already a negative reversal (red dashed line), and had produced a divergence (green dashed line).
Sarah