2020.12.18 Pound-Yen market today's price movement forecast and scenario

Pound-Yen Forecast: Using Indicator and Market Principles

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The market principles (indicators and EAs) appearing in the Elliott Wave and chart patterns in this article areFlag,Pennant, ranges andSymmetrical Triangle, and other chart patterns, and the wave and target rate of Elliott Wave can be displayed on the chart.

Please check the accuracy of the exit/close 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 with Indicator and Market Principles

Both Pound Index and Yen Index rise.

Pound-Yen moved in the direction of a weaker yen.

If the line at 140.116 is broken, there is a possibility of rising up to around 141.347.

Since the rate is at the mid-point of the target value for the trendline break, there is a possibility of consolidation at this point.