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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateSat, 08/17/2019 - 21:59
Currentdowntrend
Forecastbeginning of uptrend
Last weekBullish

Midterm forecast:

  • While the price is above the support 126.50, beginning of uptrend is expected.
  • We make sure when the resistance at 133.85 breaks.
  • If the support at 126.50 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 43 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 126.45 on 08/09/2019, so more gains to resistance(s) 129.60, 131.50 and maximum to Major Resistance (133.85) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 39.

Supports and Resistances:

  1. 168.00
  2. 159.30
  3. 156.60
  4. 153.75
  5. 149.50
  6. 146.50
  7. 143.70
  8. 142.20
  9. 141.10
  10. 139.90
  11. 137.65
  12. 133.85
  13. 129.60
  14. 125.50
  15. 116.80
Click on the level to view price action history.