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13.05.202208:12 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for May 13, 2022

Exchange Rates 13.05.2022 analysis

GBP/JPY had no time to consolidate near 158.00 rather it broke right through this support and should soon see a test of the 38.2% corrective target at 154.41 and likely also closer to the 50% corrective target at 150.09.

As the expected consolidation just above 158.00 failed, we could instead seen some consolidation just below 158.00 before renewed downside pressure towards the 154.41 target.

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Torben Melsted,
Analytical expert of InstaSpot
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