2020.11.10 Pound/Yen market today’s price movement forecast and scenario

GBP/JPY Forecast: Using Indicators and Market Principles

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The market principles (indicators and EA) that appear in the article's <エリオット波動> and <チャートパターン> areFlag,Pennant, ranges andTriangle consolidation, and other chart patterns, as well as Elliott Wave counts and target rates, can be displayed on the chart.

Please check the accuracy of exit points in this article.

＜Pound Index - Daily chart＞


＜Yen Index - Daily chart＞


※ The charts use those from https://jp.tradingview.com/.

＜GBP/JPY - Daily chart＞

GBP/JPY 4-hour chart from the market principles and indicators

Although the Pound Index slightly declined, the Yen Index formed a large bearish candle from a strong GD, causing GBP/JPY to rise significantly.

The impact of the U.S. presidential election is pronounced.

Elliott Wave showed a bearish wave, but this movement also produced a bullish Elliott Wave.

When the strength surpasses the yellow trend line, the influence of the bearish Elliott Wave may be less pronounced.