GBPJPY Elliott Wave View: Bulls Are Expected To Remain In Control
Elliott Wave view in GBPJPY suggests that the decline from 01 September 2020 peak unfolded as 5 waves
Up from there, wave (v) remains in progress in a lesser degree 5 wave structure & expected to reach a minimum extension area towards 136.51- 136.91 area (inverse 1.236%-1.618% ext area) before ending 5 waves within wave ((a)). In case of further extension area in wave (v) the pair can even see (v)=(i) target area as well towards 136.96-137.39 area before entering wave ((b) pullback. Near term, the pullback in wave ((b)) is expected to find support in 3, 7, or 11 swing against 133.02 low for further upside in the pair.
GBPJPY 1 Hour Elliott Wave Chart
