2020.11.11 GBP/JPY market today's price movement forecast・scenarios

Pound-Yen Forecast: Using Indicator and Market Principles

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The market principles (indicators and EA) that appear in the Elliott Wave and Chart Patterns in this article areflag,pennant, ranges andtriangle consolidation, and they can be displayed on the chart as patterns and the wave and target rates of Elliott Wave.

Please confirm the high accuracy 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＞

Indicator/Market Principles: Pound-Yen 4-Hour Chart

The Pound Index rose while the Yen Index remained flat, so the Pound-Yen rose.
Yesterday's price movement forecast was almost spot on.

There is a bearish Elliott wave, but likely, since the momentum changed with the U.S. presidential election, as long as the rate remains above the yellow trend line, the bullish Elliott wave influence will continue to prevail.