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17.01.2022 08:00 AM
Elliott wave analysis of GBP/JPY for January 17, 2022

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The corrective consolidation is now complete and the underlying impulsive rally higher to our first target level of 160.54 is taking place. If bulls assert strength, GBP/JPY may go higher to our second target level of 163.39.

Keep the focus on the upside and a break above minor resistance at 157.69 for a continuation towards 160.54 and maybe even higher.

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