2021.4.13 Pound-Yen exchange rate today’s price movement forecast and scenario

＜Pound Index - Daily Chart＞

＜Yen Index - Daily Chart＞

※ The charts used are from https://jp.tradingview.com/。

＜Pound-Yen - Daily Chart＞

Indicator and the principles of the market: Pound-Yen 4-hour chart

Pound index remains unchanged, yen index rises.

Pound-Yen remained unchanged.

In the daily Elliott Wave, the target is in the 157 yen range, but the 4-hour Elliott Wave has reached up to Wave 5, and a corrective wave seems likely.

Until it breaks above the yellow solid-line trendline, the movement tends to be downward-driven.

＜Price Movement Forecast＞

＜Elliott Wave＞

＜Chart Pattern＞

Indicator and the principles of the market: Pound-Yen 15-minute chart

From the characteristics of Elliott Wave Wave 4, a triangle seems likely to form.

After the triangle completes, a breakout direction may spark the trend, but there is a higher probability of a slight downward move.

＜Elliott Wave＞

Pound-Yen scenario forecast

The short-term chart looks like it may form a triangle, but given the break below the channel line, technically it seems likely to drift down to about the 149.281 level.