2020.12.9 GBP/JPY market today's price movement forecast・scenario

Pound/Yen Forecast: Using Indicator and Market Principles

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

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> sections of this article 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 accuracy of the 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 results on the Pound/Yen 4-hour chart

Pound Index is down, Yen Index remains unchanged.

Pound/Yen remained almost unchanged.

Currently, it is in a range, squeezed between the rising-right-shoulder yellow trend line drawn on the “Bullish Elliott” chart.

If this trend line is surpassed, initially it could rise to around 140.400, and if the pullback does not break the trend line, perhaps around 141.400.

If it cannot be surpassed and breaks lower from the range, it may move toward around 136.150.