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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trading suggestion:

Price is in the Trend Hunter Sell Zone (150.30 to 152.80).

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (150.30)
    • Resistance on 04/04/2018
    • Resistance on 03/27/2018
    • Resistance on 03/22/2018
    • Peak on 03/21/2018
    • Resistance on 03/21/2018
    • Resistance on 02/21/2018
    • Resistance on 02/20/2018
    • Support on 02/12/2018
    • Support on 02/09/2018
    • Support on 01/11/2018
    • Support on 01/10/2018
    • Support on 12/19/2017
    • Support on 12/13/2017
    • Support on 12/07/2017
    • Support on 12/06/2017
    • Resistance on 11/29/2017
    • Peak on 11/07/2017
    • Resistance on 11/07/2017
    • Resistance on 10/23/2017
    • Support on 09/29/2017
    • Support on 09/28/2017
    • Support on 09/26/2017
    • Support on 09/25/2017
    • Support on 09/20/2017
    • Support on 09/19/2017
    • Support on 09/18/2017
  • Ending of entry zone (152.80)
    • Resistance on 02/09/2018
    • Resistance on 02/08/2018
    • Resistance on 02/07/2018
    • Support on 01/30/2018
    • Support on 01/29/2018
    • Resistance on 01/16/2018
    • Resistance on 01/15/2018
    • Resistance on 01/12/2018
    • Resistance on 01/04/2018
    • Resistance on 01/03/2018
    • Resistance on 01/02/2018
    • Resistance on 12/08/2017
    • Resistance on 12/04/2017
    • Resistance on 09/22/2017
    • Resistance on 09/21/2017

DateApril 8, 2018 - 18:06
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 156.600 would begin in Midterm.

Technical analysis:

  • A trough is formed in daily chart at 148.40 on 04/02/2018, so more gains maximum to Trend Hunter Sell Zone (150.30 to 152.80) 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 57.

Take Profits:

  1. 147.75
  2. 145.30
  3. 142.20
  4. 139.30
  5. 136.90
  6. 132.30
  7. 129.60
  8. 125.50
  9. 116.80
Click on the level to view price action history.