FX.co ★ Elliott wave analysis of GBP/JPY for June 13, 2022

We are looking for a B-wave to 168.43. A renewed downside pressure towards support in the 154.48 - 155.48 area looks possible before the next impulsive rally to 196.

We need to concentrate on the final leg lower in the correction from 168.43. A break below minor support at 165.16 will confirm the expected decline towards support in the 154.48 - 155.48 zone.