2020.11.17 Pound/Yen exchange rate today’s price movement forecast and scenarios

USD/JPY Forecast: Using Indicators and Market Principles

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The market principles (indicators and EAs) that appear in the article’s Elliott Wave and Chart Patterns can display on the chart chart patterns such asFlag,Pennant, ranging andSymmetrical Triangle as well as Elliott Wave waves and target rates on the chart.

Please check the 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＞

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

The Pound Index remains unchanged, the Yen Index rises.

GBP/JPY remained unchanged.

Currently, it is range-bound at the 2/3 retracement level, but as long as this line is not broken, downside movement seems limited.