2020.12.1 Pound/Yen exchange rate 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 Pattern in this article areFlag,Pennant, ranges andTriangles, etc., and they can display the chart patterns and the wave and target rates of Elliott Wave on the chart.

Please verify the accuracy of the exit/close points in this article.







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

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

The Pound Index is rising, and the Yen Index is falling.

Pound/Yen has been rising.

Figuratively, it is expected to form a triangle consolidation.

If the rising Elliott’s right shoulder downtrend line is broken, it will move upward.

If it cannot be broken, I imagine it will fall to around the 137.600 line.