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16.03.2023 08:52 AM
Elliott wave analysis of GBP/JPY for March 16, 2023

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We expect GBP/JPY to continue the downside pressure and a break below support near 159.20 for a decline towards the 145.76 target. Short-term we see resistance 161.29 that we expect will act as a cap for the break below support at 159.20 and continued downside pressure to the long-term target for the ongoing correction near 145.76.

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