7/13 08:00 Article Post: GBP/JPY Outlook
Today’s Pound/Yen Forecast: Building a Scenario for Pound/Yen Price Movement
Actually, today is difficult to understand as well. The reason is that the four-hour Elliott Wave has reached up to Wave 5.Pound/Yen 4-Hour Chart
By the way, the faint pink point on this chart is from the upcoming indicator "Principles of the Market" that will be released next.The reach points of Waves 3 and 5 are almost spot on, right?
Waves a–c move in the opposite direction of the previous trend, so I think it will move downward for a while, but on the day the weekly candle closes... Yes. Today.
Pound/Yen Weekly Chart
In any case, we must pay attention to the weekly support around 147.800. I’m sorry. Today I can’t draw a scenario, so I will publish a rough image of the current stage.
<Day Trading Image>
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