2021.4.9 Pound/Yen market today’s price movement forecast and scenario

＜Pound Index - Daily＞

＜Yen Index - Daily＞

※ The chart uses one from https://jp.tradingview.com/.

＜GBP/JPY - Daily Chart＞

Indicator - Principles of the Market and the Pound-Yen 4-Hour Chart

The Pound Index remains unchanged. The Yen Index is rising.
GBP/JPY has been falling.

In terms of the chart, it looks like it may fall to the 149.281 level.

Therefore, if you are looking to go long, a bottoming pattern or a range/sideways consolidation is needed.

＜Price Movement Prediction＞

＜Elliott Wave＞

Indicator - Principles of the Market and the Pound-Yen 15-Minute Chart

After breaking below the corrective wave range, Elliott wave occurred, and it fell toward the predicted third wave target of 149.682, stopping short at 149.879.

From here, a triangle formation is expected, but if the range breaks to the downside, it could drop to the 147 yen area.

＜Elliott Wave＞

Pound-Yen Scenario

As imagined yesterday, it has fallen to around 149.682.

A triangle formation is expected, but since the 23.6% line is being watched, the direction of the current range break will likely determine the trend.