2022.2.4 Pound-Yen Exchange Rate Today's Price Movement Forecast and Scenario

<ポンド指数・日足>

<円指数・日足> ※チャートはhttps://jp.tradingview.com/のモノを使用しています。

＜ポンド円・日足チャート＞

Indicator and Market Principles: GBPJPY 4-hour Chart

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

It has broken upward from the vicinity of the blue solid-line trendline and has surged to 156.493.

If the price breaks above the recent high at 157.758, it seems to be forming the first upward Elliott wave on the daily chart.

＜Price Movement Forecast＞

＜Elliott Waves＞

Indicator and Market Principles: GBPJPY 15-minute Chart

From the vicinity of the blue solid-line trendline on higher timeframes, the consolidation has been broken to the upside, and the downward Elliott wave has vanished.

Instead, an upward Elliott wave has developed, and currently a consolidation is forming.

＜Elliott Waves＞

・Downward Elliott

・Upward Elliott

＜Chart Patterns＞

GBPJPY Outlook

If the blue solid-line trendline acts as support, it is expected to break above the recent high at 157.758.