2020.12.23 Pound/Yen exchange rate daily movement forecast and scenarios

Pound/Yen Forecast: Using Indicators and Market Principles

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

The market principles (indicators and EA) that appear in the article's Elliott Wave and chart patterns areFlag,Pennant, ranges, andTriangles consolidation, etc., and their wave counts 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/.

＜Pound/Yen – Daily Chart＞

Pound/Yen 4-hour Chart Generated by Indicators and Market Principles

Both the Pound Index and the Yen Index have fallen, and GBP/JPY has been declining.
It seems to be a battle around a downward-sloping yellow trendline, but it looks like one side may break soon.

If it moves upward, it will rise as long as it crosses above the yellow trendline with price action and does not break lower on a pullback.
If it moves downward, it seems likely to move lower if it breaks below the blue horizontal line.