FX.co ★ Elliott wave analysis of GBP/JPY for February 28, 2022

GBP/JPY could still see a bit more downside closer to support at 152.37 before tuning higher in the next impulsive rally towards 160.54 and likely higher towards the extension target seen at 163.39. Short-term we need to see a break above minor resistance at 155.00 to confirm that the correction is complete and the next impulsive rally is in motion.