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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateOctober 23, 2021 - 22:34
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 156.010 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI resistance #1 at 55 is broken, so the probability of continuation of uptrend is increased.
  • A peak is formed in daily chart at 158.21 on 10/20/2021, so more losses minimum to Major Support (156.01) 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 63.

Supports and Resistances:

  1. 153.25
  2. 151.17
  3. 149.70
  4. 148.50
  5. 146.50
  6. 145.00
  7. 142.75
  8. 140.10
Click on the level to view price action history.