2022.1.27 Daily movement forecast and scenario for Pound-Yen exchange rate

＜Pound Index - Daily Chart＞

＜Yen Index - Daily Chart＞※The charts used are from https://jp.tradingview.com/.

＜Pound/Yen - Daily Chart＞

Pound/Yen 4-hour chart as indicated by indicators and market principles

Both the Pound Index and the Yen Index are declining. Pound/Yen remained almost unchanged.

The blue solid-line trendline was temporarily crossed, but it was broken on a pullback.

After the correction, the focus will be on whether it rebounds and crosses the blue solid-line trendline.

＜Price Action Forecast＞

＜Elliott Wave＞

Pound/Yen 15-minute chart as indicated by indicators and market principles

If it cannot exceed the blue solid-line trendline on the pullback, there is a possibility that it will fall to the target of the fifth wave.

＜Elliott Wave＞

＜Chart Patterns＞

Pound/Yen Projection

In the 4-hour price action forecast, the focus will be on whether it can surpass the blue solid-line trendline drawn.