FX.co ★ Elliott wave analysis of GBP/JPY for September 20, 2022

We continue to look for wave C lower towards 154.41 and possibly even closer to the 50% corrective target seen at 150.09 before the ongoing correction from late April finally comes to an end for the next impulsive rally towards 175.27.

Short-term only a break above resistance at 167.94 will indicate that the correction was completed early and the expected rally to 175.27 already is in progress.