2020.12.2 Pound/Yen market today's price movement forecast and scenario

Pound-Yen Forecast: Using Indicators and Market Principles

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The market principles (indicators and EAs) that appear in the Elliott Wave and chart patterns in this articleflag,pendant, range andsymmetrical triangle, etc., can be displayed on the chart as the chart patterns and the waves and target rates of the Elliott Wave.

Please check the precision of exit points in this article.

＜Pound index - daily chart＞


＜Yen index - daily chart＞


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

＜Pound-Yen - daily chart＞

Indicator: Market Principles and the Pound-Yen 4-hour Chart

The pound index rose sharply. The yen index fell slightly, so the pound-yen rose.

From the chart pattern perspective, if captured by a breakout above the triangle, around 142.500.

If considered a pennant, it would likely rise toward around 141.400.