2020.2.18 GBP/JPY Market Today’s Price Movement Forecast and Scenario

GBP/JPY Prediction using Indicators and Principles of the Market

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The market principles (indicators and EA) presented in the Elliott Wave and Chart Pattern sections of this article includeFlag,Pennant, ranges, andTriangle Consolidation, etc., and can display on the chart the chart patterns and wave targets of Elliott Wave on the chart.

Please verify the accuracy of exit points in this article.

GBP/JPY 4-hour chart produced by Indicators and Market Principles

Instead of breaking above and then ranging, it consolidated in a zone at a lower level of 142.910–143.335.

If this range is broken upward, it seems to move toward around 143.950–144.150. If broken downward, it may move toward around 142.150–141.950.