GBP/JPY has been corrected since the 168.41 peak back in late April 2022. We are missing the final dip lower to 145.76 to complete the correction in wave 2 and set the stage for the next impulsive rally above 172.13 towards 195.50.
Short-term we expect minor resistance at 162.33 to be able to cap the upside for the final dip closer to the ideal target at 145.76 to complete wave 2 and then higher in wave 3.
Relevance up to 06:00 2023-01-24 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
