2020.12.16 Pound/Yen market today's price movement forecast and scenario

Pound-Yen Forecast: Using Indicators and Market Principles

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

The market principles (indicators and EA) that appear in the Elliot Wave and Chart Pattern in this article show chart patterns such asFlag,Pennant, ranges andSymmetrical Triangle, and the wave of the Elliott Wave and the target rate on the chart.

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

＜Pound Index - Daily Chart＞


＜Yen Index - Daily Chart＞


※ The charts use those from https://jp.tradingview.com/.

＜Pound-Yen - Daily Chart＞

Pound-Yen 4-hour Chart from Indicators and Market Principles

Both the Pound Index and Yen Index are rising.
The Pound-Yen has shifted toward the weaker yen (yen depreciation).

Since it has crossed above the descending yellow trendline, if this trendline functions as support, the line at 140.116 seems likely to become the initial target.