2020.12.7 Pound/Yen Exchange Rate Today's Price Movement Forecast / Scenario

GBP/JPY Forecast: Using Indicator Principles of the Market

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The market principles (indicators and EA) that appear in the <エリオット波動> and <チャートパターン> of this article can display chart patterns such asFlag,Pennant, ranges,Triangles and the waves and target rates of Elliott Wave on the chart.

Please verify the high precision of exit points in this article.

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞


※ The charts used are from https://jp.tradingview.com/.

＜GBP/JPY - Daily Chart＞

Indicator: Market Principles' GBP/JPY 4-Hour Chart

Both the Pound Index and the Yen Index are falling.

GBP/JPY has started to rise.

In the rising Elliott chart, the right-shoulder-down yellow trend line was tested but not broken, so conditions are favorable for an upward move.