2020.12.3 Pound/Yen market today's price movement forecast・scenario

Pound/Yen Forecast: Using Indicators and Market Principles

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The market principles (indicators and EA) that appear in the and of this article can display on the chartFlag,Pennant, ranges andSymmetrical triangle, etc., the chart patterns and Elliott wave movements and target rates on the chart.

Please confirm the high accuracy of exit points in this article.

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞


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

＜Pound/Yen - Daily Chart＞

Indicator/Market Principle: Pound/Yen 4-hour Chart

Both the Pound Index and the Yen Index fell, causing the Pound/Yen to lean toward the yen strength.

As both indices appear to be in a range-bound chart situation, Pound/Yen may continue to lack direction.

If it enters a range, it may trade around the zone of 140.136–140.745, or around 139.000–140.150.

Conversely, if a trend develops, it may move toward the 142.469 line of the U-shaped chart pattern target, or toward around 137.769 if the chart pattern fails to complete.