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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.

DateDecember 15, 2018 - 18:59
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 a downtrend wave below 143.950 would begin in Midterm.

Technical analysis:

  • While the RSI resistance #1 at 50 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 143.95 on 12/13/2018, so more losses to support(s) 139.45, 135.60, 129.60 and more depths 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 41.

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. 139.45
  16. 135.60
  17. 129.60
  18. 125.50
  19. 116.80
Click on the level to view price action history.