English translation: 2020.10.27 Pound/Yen exchange rate today’s price movement forecast and scenario

Pound-Yen Forecast: Using Indicators and Market Principles

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The market principles (indicators and EAs) that appear in the Elliott Wave and chart patterns in this articleflag,pennant, ranges andtriangular consolidation, etc., can be displayed on the chart as the chart patterns and Elliott Wave waves and target rates.

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

＜Pound Index – Daily Chart＞


＜Yen Index – Daily Chart＞


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

＜Pound-Yen – Daily Chart＞

Pound-Yen 4-Hour Chart Produced by the Indicator and Market Principles

The Pound Index declines, the Yen Index rises, and the Pound-Yen falls.

Since the Pound Index tends to move opposite to the Dollar Index, looking at the Dollar Index shows that an upward flag is forming.

From a chart-pattern perspective, there is a somewhat higher chance of a decline.