GBP/JPY is has been consolidating. This presents great opportunity for you scalpers. I have successfully scalped this pair and I think it is a great opportunity for other traders to learn price action and candlestick formation on this pair. Next week, it is going hectic. I have posted a picture of my scalping method for GBP/JPY. It agreed on every aspect of candle stick and price action. Please be careful when trading in the range.
As for now, USD/CAD will be coming out soon.
Price Projection: Bearish
What makes me believe it is bearish is because the pair has not reached price objectives. IF counting is correct, as the rate is released, it will help complete the 5th wave of wave 4 of the corrective wave. Although, it can be contradicting because it will be approaching Wave 1 which does affect one of the cardinal rules. I will not be trading a heavy lot on this pair. I will go the general route of risking 2% of what I have. Please learn to read from the economic release calendars to avoid slippage when trading event news.
EDIT: Confusion on the fourth wave. Unclear about pattern due to vagueness of bars displayed.