2020.12.17 Pound-Yen exchange rate today’s price movement forecast and scenario

GBP/JPY Forecast: Using Indicators and Market Principles

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

The market principles (indicators and EA) that appear in the article's <＜Elliott Wave＞ and <＜Chart Patterns＞ areflag,pennant, ranges andtriangle consolidation, and these patterns and Elliott Wave waveforms and target rates can be displayed on the chart.

Please verify 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/.

＜GBP/JPY - Daily Chart＞

GBP/JPY 4-hour chart produced by Indicators and Market Principles

Because the Pound Index rose and the Yen Index fell, GBP/JPY moved slightly in a weaker yen direction.

The target value estimated by the trendline break is around 141.350, but it is key that the trendline is recognized by the market as functioning as support.