2020.11.25 Pound/Yen market today's price movement forecast and scenarios

Pound/Yen Forecast using Indicator and Market Principles

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The market principles (indicators and EA) featured in the Elliott Wave and Chart Patterns in this article areFlag,Pennant, ranges andSymmetrical Triangle, and other chart patterns and Elliott wave movements and target rates can be displayed on the chart.

Please check 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＞

Pound/Yen 4-hour Chart produced by Indicator and Market Principles

The Pound Index is rising. The Yen Index is slightly falling.

Pound/Yen has moved up.

Elliott Wave currently shows two waves: a bearish Elliott and a bullish Elliott, but it seems more likely to be the bullish Elliott.

Chart pattern-wise, it is approaching the target value after an upside breakout.

In terms of price movement imagery, a U-shaped chart pattern seems to be completing, so it is expected to consolidate around 139.350–139.900, or around 140.150–140.750.