2021.8.6 Pound/Yen market today’s price movement forecast and scenario

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

Pound-Yen 4-hour chart produced by indicators and market principles

The pound index is rising, and the yen index is falling. The pound-yen has been rising.

Because the 151.858 line has been functioning as support, it is moving upward toward 153.150.

If the red solid trendline is broken and that trendline begins to function as support, there is potential for the price to rise around 154.350.

Pound-Yen 15-minute chart produced by indicators and market principles

From the signs that 152.550 would not be reached, the upside appeared weak, but a rising Elliott wave occurred and has reached up to the third wave. If the fifth wave occurs, it could rise to 155.116.