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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.

DateMay 30, 2020 - 22:56
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 123.850, beginning of uptrend is expected.
  • We make sure when the resistance at 135.650 breaks.
  • If the support at 123.850 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 130.65 on 05/21/2020, so more gains maximum to Major Resistance (135.65) 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 55.

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.