2020.12.15 Pound/Yen exchange rate today’s movement forecast and scenario

GBP/JPY Forecast: Using Indicator and Market Principles

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The market principles (indicators and EA) that appear in the Elliott Wave and Chart Patterns in this articleFlag,Pennant, ranges, andSymmetrical triangles, etc., can be displayed on the chart as patterns and Elliott Wave waves and target rates.

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

＜Pound Index – Daily Chart＞



＜Yen Index – Daily Chart＞


Note: The charts use data from https://jp.tradingview.com/.

＜GBP/JPY – Daily Chart＞

Four-hour Chart of GBP/JPY Based on Indicators and Market Principles

The Pound Index is rising. The Yen Index is falling.

Because GBP/JPY made a large gap up, GBP/JPY also rose on a large gap up.

The break at 137.600 formed a false breakout, retracing to around the yellow downward-sloping trendline on the right shoulder.

If this trendline is broken, there is a possibility of a rebound toward around 140.116.