2020.10.26 Pound-Yen Exchange Rate Today’s Price Movement Forecast・Scenario

Pound/Yen Forecast using Indicators and the Principles of the Market

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The market principles (indicators and EA) that appear in the Elliott Wave and chart patterns in this articleFlag,Pennant, ranges andSymmetrical triangle, etc. can be displayed on the chart as chart patterns and Elliott Wave waves and target rates.

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

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞



* The charts use ones from https://jp.tradingview.com/.

＜Pound/Yen - Daily Chart＞

Pound/Yen 4-Hour Chart from the Indicator and Market Principles

As the Pound Index declined and the Yen Index remained unchanged, the Pound/Yen fell.

From here on, a decline is unlikely because the first wave high of the daily Elliott Wave, which is seen as a support, exists, but if this line (137.735) is breached, a sharp decline may follow.