2021.5.21 Pound-Yen market today's price movement forecast・scenario

＜Pound Index - Daily Chart＞

＜Yen Index - Daily Chart＞

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

＜GBP/JPY - Daily Chart＞

Indicator and Market Principles: GBP/JPY 4-Hour Chart

Both the Pound Index and the Yen Index are rising. GBP/JPY has been rising. With the price oscillating around a blue horizontal line, if this consolidation breaks upward, it could reach around 155.300.

If it breaks downward, the price could reach the 153.249 level.

＜Price Movement Forecast＞

＜Elliott Wave＞

＜Chart Patterns＞

Indicator and Market Principles: GBP/JPY 15-Minute Chart

Technically, an upward-sloping flag pattern is approaching completion.

After a break downward, a double bottom is forming, so if this pattern completes, the price could extend to around 155 yen.

＜Elliott Wave＞

GBP/JPY Outlook

On the 4-hour chart, a double bottom appears likely to form, and once the double bottom is completed, technically the price could move into the 155 yen region.