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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.

DateApril 18, 2020 - 21:37
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 136.850, beginning of downtrend is expected.
  • We make sure when the support at 123.850 breaks.
  • If the resistance at 136.850 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 134.70 on 03/27/2020, so more losses to support(s) 132.40, 130.40, 126.65 and minimum to Major Support (123.85) 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 51.

Supports and Resistances:

  1. 149.50
  2. 146.50
  3. 143.70
  4. 132.40
  5. 116.80
Click on the level to view price action history.