2020.12.11 Pound/Yen Exchange Rate Today’s Price Movement Forecast and Scenario

Pound/Yen Forecast - Using Indicator and Market Principles

This article is available for 1,000 yen per month on Invest Navi.

The market principles (indicators and EA) appearing in the Elliott Wave and chart patterns in this articleFlag,Pennant, ranges andSymmetrical triangle, etc., can be displayed on the chart as wave patterns and target rates.

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

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞


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

＜Pound/Yen - Daily Chart＞

Pound/Yen 4-Hour Chart from Indicator and Market Principles

The Pound Index is falling, the Yen Index is unchanged.

Pound/Yen has fallen.

Yesterday, the right shoulder of the rising Elliott Wave yellow trendline drawn earlier was briefly broken upward, but this breakout turned into a false move, and it dropped to around 138.300.

If the 137.600 level is breached, downside momentum may accelerate, but if the yellow right-shoulder downward trendline is again surpassed, there is a possibility of moving upward.