The daily chart of GBP/JPY indicates that the pair is in strong downtrend as it is consistently making lower lows.
The pair is in the process of forming a full Elliot wave.
As per our analysis, we expect the pair to form a ABC corrective pattern and so it is expected to be bearish until it reach 141.845,which is also the 1.272 fibonacci extension of the previous wave.
The pair is in the process of forming a full Elliot wave.
As per our analysis, we expect the pair to form a ABC corrective pattern and so it is expected to be bearish until it reach 141.845,which is also the 1.272 fibonacci extension of the previous wave.