2020.12.31 Pound-Yen Exchange Rate Today's Movement Forecast and Scenario

GBP/JPY Forecast using Indicator and Market Principles

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The market principles (indicators and EA) that appear in the Elliott Wave and chart patterns in this articleFlag,Pennant, ranges andsymmetrical triangles, etc., can be displayed on the chart as chart patterns, Elliott Wave waves, and target rates.

Please check 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 the Indicator and Market Principles

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Both the Pound Index and Yen Index have risen.
GBP/JPY has risen.

The Pound Index has broken out of its consolidation upward, and there is a trendline resistance directly above on the Yen Index, so depending on movement, GBP/JPY could rise significantly.

After reaching around 140.750 as previously forecast, there is an expectation of a pullback as the upward energy wanes, but since the Pound Index is breaking upward, there is also a possibility of a large rise without a pullback.