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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 29, 2018 - 17:12
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • 143.200 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The RSI bounced from the resistance #1 at 46 and it prevented price from more gains.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • 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 32.

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. 143.95
  16. 139.45
  17. 135.60
  18. 129.60
  19. 125.50
  20. 116.80
Click on the level to view price action history.