Technical analysis suggests GBPJPY is advancing in its fifth wave, nearing the end of a diagonal pattern from April 30, 2026.
GBP/JPY is progressing through its final Elliott Wave diagonal, originating from a low on April 30, 2026. The pair completed wave ((i)) at 214.05 before a corrective pullback in wave ((ii)) to 211.18.
Following this, the currency pair rallied in wave ((iii)), though specific targets remain undisclosed in the analysis. The diagonal structure typically signals an impending reversal or consolidation phase once completed.