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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.

DateJune 13, 2020 - 22:06
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 130.650, continuation of uptrend is expected.
  • We make sure when the resistance at 139.750 breaks.
  • If the support at 130.650 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 139.60 on 06/08/2020, so more losses to support(s) 132.40 and minimum to Major Support (130.65) 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 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.