2022.5.26 Pound/Yen market today’s price movement forecast and scenario

＜Pound Index - Daily＞＜Yen Index - Daily＞※ The charts use the ones from https://jp.tradingview.com/。

＜Pound/Yen - Daily Chart＞

Pound/Yen 4-hour Chart Highlighted by Indicators and Market Principles

Pound index is rising, yen index is falling. Pound/Yen has been rising.

It has broken the 159.100 line and is again approaching the neck line.

If the neck line acts as resistance, expect a decline toward around 155.800.

If the neck line does not act as resistance, there is a possibility of rising to around 161.900.

＜Price Movement Forecast＞

＜Elliott Wave＞

Pound/Yen 30-minute Chart by Indicators and Market Principles

It has broken out from a consolidation range and is currently viewed as moving toward around 160.600.

＜Elliott Wave＞

＜Chart Pattern＞

Pound/Yen Outlook

The defense and offense at the neck line will be the focus.