2020.12.4 Pound-Yen Exchange Rate Today's Movement Forecast and Scenario

Pound/Yen Forecast: Using Indicators and Market Principles

This article is sold on Investment Navigator for 1,000 yen per month.

The market principles shown in the article through＜Elliott Wave＞ and＜Chart Patterns＞ (indicators and EA) can display chart patterns and Elliott Wave waves and target rates on the chart, such asFlag,Pennant, ranges andTriangle consolidation, on the chart.

Please check the high accuracy 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＞

Pound/Yen 4-Hour Chart generated by Indicators and Market Principles

Both the Pound Index and Yen Index rose, and Pound/Yen shifted toward a weaker Yen.

As for the situation, it is likely to range between 139.150 and 140.100 with a right shoulder down yellow trend line drawn on the【Rising Elliott】 chart, creating a sideways moving phase.

When the range breaks, the upside target is around 141.400. If it does not stop around 138.500, there is a possibility it could move toward around 137.350.