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08.12.202107:32 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for December 8, 2021

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GBP/JPY should be close to a completion of the correction in wave iv/. Ideally we will see a final spike down to test support at 148.83. However, GBP/JPY is testing a minor support-line which could prove to be strong enough to protect further downside progress and push GBP/JPY higher through minor resistance at 152.42 as confirmation that wave 5/ of iii is unfolding towards at least 160.54 and ideally closer to the 163.39 target.

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