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03.08.202207:43 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for August 3, 2022

Exchange Rates 03.08.2022 analysis

GBP/JPY is fighting its way lower towards support near 157.50 and likely even closer to support at 154.41 before we should look for the next impulsive rally higher. We could see a sudden faster dip like a ketchup bottle once support at 160.43 breaks for real.

Only an unexpected direct break above resistance at 166.33 will indicate that the correction has completed pre-maturely and new highs are in sight near 175.35.

*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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