FX.co ★ Elliott wave analysis of GBP/JPY for March 22, 2022

GBP/JPY has rallied nicely since the 150.98 low and is already fighting with resistance near 158.10 and a clear break above here will call for more upside towards at least 160.54 and more likely closer to the extension target at 163.91.

Support is now seen near 156.00 which ideally will protect the downside for the clear break above resistance at 158.10 for the continuation higher to 160.54 and 163.91.