2020.11.5 Pound-Yen exchange rate today's price movement forecast and scenarios

GBP/JPY Forecast: Using Indicators and the Principles of the Market

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

The market principles (indicators and EAs) that appear in the article’s <エリオット波動> and <チャートパターン> can display patterns such asFlag,Pennant, ranges, andTriangle consolidation on the chart along with the waves and target rates of the Elliott Wave.

Please confirm 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/.

＜GBP/JPY – Daily Chart＞

Indicator: The Market Principles’ GBP/JPY 4-Hour Chart

The Pound Index fell sharply while the Yen Index remained almost unchanged, so GBP/JPY moved lower.

From the GBP/JPY chart perspective, the yellow down-sloping trend line is being watched, with the upside being constrained.

On the Daily chart, the first wave high of the Elliott Wave around 135.735 appears to be a key level, and the price seems likely to range a little around this line.