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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.

DateNovember 10, 2018 - 21:10
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 142.750, beginning of uptrend is expected.
  • We make sure when the resistance at 149.350 breaks.
  • If the support at 142.750 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
  • A peak is formed in daily chart at 149.50 on 11/08/2018, so more losses to support(s) 146.95, 145.25, 143.55 and minimum to Major Support (142.75) 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 55.

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.