2022.1.28 Pound/Yen Exchange Rate Today’s Price Movement Forecast and Scenario

＜Pound Index - Daily＞＜Yen Index - Daily＞The chart uses a chart from https://jp.tradingview.com/. ＜Pound/Yen - Daily Chart＞

Indicator and Market Principles: Pound/Yen 4-Hour Chart

Both the Pound Index and Yen Index are declining. The Pound/Yen has been rising.

It is hovering near the blue solid-line trend line.

Which direction this consolidation breaks could be the focal point.

＜Price Action Forecast＞

＜Elliott Wave＞

Indicator and Market Principles: Pound/Yen 15-Minute Chart

On higher timeframes, it is consolidating near the blue solid-line trend line, and a downside breakout from this consolidation could reach the fifth wave target.

＜Elliott Wave＞

Pound/Yen Outlook

In the 4-hour price action forecast, the focus is on whether the blue solid-line trend line drawn can be surpassed.