2020.11.2 Pound/Yen market today’s price movement forecast and scenario

Pound/Yen Forecast: Using Indicators and Market Principles

This article is available on Investors Navi for 1,000 yen per month.

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 wave counts 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 those from https://jp.tradingview.com/.

＜Pound/Yen - Daily Chart＞

Pound/Yen 4-Hour Chart by Indicators and Market Principles

The Pound Index rose slightly while the Yen Index remained flat, so the Pound/Yen moved higher.

As in the previous example, I expect the line at 135.735 will be watched.
If this level is seen as resistance and holds as a closing price, I expect the pair will move downward; if it is breached on close and functions as support, it should move upward.