-
GBP/JPY Elliott Wave Analysis
As sterling has eased after rallying to 148.10 last week, suggesting consolidation below this level would be seen and pullback to 145.50-60 cannot be ruled out, however, reckon 144.65-75 would limit downside and bring another rise later, above said resistance at 148.10 would bring test of previous chart resistance at 148.55, however, break of this A leg top is needed to confirm early upmove from 120.50 low has resumed and extend gain to 149.00-10, then towards psychological resistance at 150.00 which is likely to hold on first testing.