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22.09.202106:20 Forex Analysis & Reviews: Elliott wave analysis of GBP/JPY for September 22, 2021

Exchange Rates 22.09.2021 analysis

GBP/JPY made a new low for red wave ii at 149.10. It is holding above the low of red wave i at 148.46. It may continue to do so, as we will be looking for a break above minor resistance at 151.00 and more importantly a break above resistance at 151.93. If so, it will confirm that red wave ii has completed and red wave iii towards 156.03 is unfolding and ultimately a continuation towards the 159.75 target remains expected.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Torben Melsted,
Analytical expert of InstaSpot
© 2007-2025
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