FX.co ★ Elliott wave analysis of GBP/JPY for April 29, 2022

GBP/JPY is correcting nicely from the 168.43 peak and we should see more downside force being added in the near-term towards our first downside target at 158.15, but this support will likely break after a short while for a continuation towards support at 154.41 and possibly closer to 150.04.

So continue to look for more downside pressure near term.