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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.

DateOctober 17, 2020 - 22:11
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 139.750, resumption of downtrend is expected.
  • We make sure when the support at 133.050 breaks.
  • If the resistance at 139.750 is broken, the short-term forecast -resumption of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 137.85 on 10/12/2020, so more losses to support(s) 135.65 and minimum to Major Support (133.05) 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 46.

Supports and Resistances:

  1. 149.50
  2. 146.50
  3. 143.70
  4. 139.75
  5. 137.65
  6. 135.65
  7. 116.80
Click on the level to view price action history.