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Trend Hunter performance since 2015 for this symbol

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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (126.65 to 125.50). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (126.65)
    • Resistance on 02/20/2012
    • Resistance on 02/21/2012
    • Resistance on 02/22/2012
    • Support on 02/28/2012
    • Support on 03/06/2012
    • Support on 03/07/2012
    • Support on 09/20/2012
    • Support on 09/21/2012
    • Resistance on 09/25/2012
    • Support on 10/05/2012
    • Resistance on 10/15/2012
    • Support on 10/17/2012
    • Support on 10/19/2012
    • Support on 10/22/2012
    • Support on 11/08/2012
    • Resistance on 11/13/2012
    • Support on 10/07/2016
    • Support on 10/13/2016
    • Support on 10/14/2016
    • Support on 10/19/2016
    • Support on 10/20/2016
    • Support on 10/21/2016
    • Support on 10/24/2016
    • Support on 10/25/2016
    • Support on 10/26/2016
    • Support on 11/02/2016
    • Support on 11/03/2016
    • Support on 11/09/2016
    • Support on 08/12/2019
    • Support on 08/13/2019
    • Trough on 09/03/2019
    • Support on 09/03/2019
  • Ending of entry zone (125.50)
    • Support on 02/22/2012
    • Support on 02/23/2012
    • Resistance on 05/18/2012
    • Support on 05/22/2012
    • Resistance on 06/20/2012
    • Resistance on 06/21/2012
    • Resistance on 06/22/2012
    • Resistance on 06/25/2012
    • Resistance on 06/29/2012
    • Resistance on 07/02/2012
    • Resistance on 07/03/2012
    • Resistance on 08/21/2012
    • Resistance on 08/22/2012
    • Resistance on 09/10/2012
    • Resistance on 09/11/2012
    • Resistance on 09/12/2012
    • Resistance on 09/13/2012
    • Support on 09/26/2012
    • Support on 09/27/2012
    • Support on 09/28/2012
    • Support on 10/01/2012
    • Support on 10/08/2012
    • Resistance on 10/10/2012
    • Support on 10/12/2012
    • Support on 10/15/2012
    • Support on 10/07/2016

DateSat, 02/22/2020 - 19:52
Currentrange bound
Forecastbeginning of downtrend
Last weekBullish

Midterm forecast:

  • While the price is below the resistance 146.50, beginning of downtrend is expected.
  • We make sure when the support at 140.80 breaks.
  • If the resistance at 146.50 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 140.85 on 02/04/2020, so more gains maximum to Major Resistance (146.50) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 62.

Take Profits:

  1. 131.80
  2. 133.85
  3. 135.65
  4. 137.65
  5. 140.10
  6. 143.70
  7. 146.50
  8. 149.50
Click on the level to view price action history.