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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 21, 2018 - 12:46
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 145.800 would begin in Midterm.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • The RSI bounced from the support #1 at 46 and it prevented price from more losses.
  • A peak is formed in daily chart at 148.40 on 10/16/2018, so more losses to support(s) 146.95 and minimum to Major Support (145.80) 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 49.

Supports and Resistances:

  1. 195.85
  2. 180.40
  3. 174.80
  4. 170.00
  5. 162.45
  6. 158.40
  7. 156.60
  8. 154.70
  9. 152.80
  10. 151.95
  11. 150.70
  12. 148.45
  13. 146.95
  14. 145.25
  15. 143.55
  16. 139.45
  17. 135.60
  18. 129.60
  19. 125.50
  20. 116.80
Click on the level to view price action history.
Symbol Released Current Forecast
British Pound / Japanese Yen (GBPJPY) Sun, 14 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 6 Apr 2024
British Pound / Japanese Yen (GBPJPY) Sat, 30 Mar 2024
British Pound / Japanese Yen (GBPJPY) Sat, 23 Mar 2024
British Pound / Japanese Yen (GBPJPY) Sun, 17 Mar 2024
History
Daily-Trading-Opportunities on GBPJPY.