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Weekly forecast British Pound / Japanese Yen technical chart

Trading suggestion:

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

DateJune 3, 2023 - 22:39
Forecastcontinuation of uptrend

Midterm forecast:

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

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 167.830 on 05/11/2023, so more gains to resistance(s) 175.000, 180.500, 215.900 and more heights 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 70.

Supports and Resistances:

  1. 165.726
  2. 164.184
  3. 162.567
  4. 160.655
  5. 159.725
  6. 150.974
Click on the level to view price action history.