2020.10.30 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 andTriangle consolidation, etc., can be displayed on the chart as patterns and Elliott Wave waves and target rates.

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

＜Pound Index – Daily Chart＞


＜Yen Index – Daily Chart＞


※ The chart uses a TradingView chart from https://jp.tradingview.com/.

＜Pound-Yen – Daily Chart＞

Pound-Yen 4-Hour Chart from the Market Principles and Indicators

Both the Pound Index and Yen Index have declined, but the Pound-Yen remained almost unchanged.

However, since the first wave high of the Elliott Wave has been broken, it seems the 135.735 level may become a focal point as resistance.
If the 135.735 line continues to function as resistance, there is a possibility of a significant drop.