2020.8.6 GBP/JPY market today’s price movement forecast・scenario

Pound-Yen Forecast: Using Indicators and Market Principles

This article is available for 1,000 yen per month on Investment Navigator.

The market principles (indicators and EA) that appear in the Elliott Wave and Chart Patterns in this article areFlag,Pennant, ranges andTriangles, and the wave patterns as well as target rates can be displayed on the chart.

Please confirm the high accuracy of the exit points in this article.

Pound-Yen 4-hour chart produced by Indicators and Market Principles

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞


※ The charts used are from https://jp.tradingview.com/.

The Pound Index showed a strong gap up followed by a bearish candle but then rose steadily, while the Yen Index rose slightly, so overall the pound was stronger and the Pound-Yen rose slightly.

Currently a chart pattern has formed, but since the short-term chart is approaching the fifth wave and a correction is expected, the direction of the breakout from this consolidation is a fifty-fifty scenario.