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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.

DateMay 1, 2022 - 06:07
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 158.000, resumption of uptrend is expected.
  • We make sure when the resistance at 168.000 breaks.
  • If the support at 158.000 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 159.608 on 04/27/2022, so more gains to resistance(s) 164.637 and maximum to Major Resistance (168.000) 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 54.

Supports and Resistances:

  1. 168.000
  2. 162.450
  3. 158.000
  4. 150.982
  5. 148.662
Click on the level to view price action history.