2020.12.24 GBPJPY market today's price movement forecast / scenario

GBP/JPY Forecast: Using Indicator and Market Principles

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The market principles (indicators and EAs) that appear in this article’s <エリオット波動> and <チャートパターン> areflag,pennant, ranges andtriangle consolidation shapes and the waves of Elliott Wave and their target rates can be displayed on the chart.

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

＜Pound index - daily chart＞


＜Yen index - daily chart＞


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

＜GBP/JPY - daily chart＞

GBP/JPY 4-hour chart from the market principles and indicators

The Pound index has risen, while the Yen index remains unchanged.
GBP/JPY has swung toward a weaker yen (yen depreciation).

If the line at 140.116 is closed above as support, it will trigger a 300 PIPS consolidation breakout, making a strong rise possible.