2021.8.10 Pound-Yen exchange rate today’s price movement forecast and scenario

Pound Index - Daily Chart

Yen Index - Daily Chart※ Charts use the ones 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 falling.

GBP/JPY remained nearly unchanged.

A red solid-line trendline directly above is being watched, and it seems to be trading within the 152.550–153.050 range.

If this range is broken upward, it may move toward around 153.500. If broken downward, it may move toward around 151.850.<

Price Movement Forecast

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

In order to rise toward the fifth wave target of 155.116 in Elliott Wave, a triangle chart pattern is forming, accumulating energy.

GBP/JPY Outlook

The image suggests a range-bound movement around the red solid-line trendline.