Elliott wave analysis of GBP/JPY for September 13, 2021

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GBP/JPY continues to push higher, but looks a bit tired and likely will see a minor set-back to 151.52 near-term before the next real push higher through resistance at 153.49 for a continuation higher to 156.04 and the ideal wave v/ target at 159.75.

A test of 159.75 will complete wave iii and set the stage for a larger sideways consolidation in wave iv as GBP/JPY gathers new strength for the next impulsive rally above 159.75 in wave v.

The material has been provided by InstaForex Company - www.instaforex.com

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