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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (141.15 to 139.90). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (141.15)
    • Support on 01/20/2017
    • Support on 01/23/2017
    • Support on 01/24/2017
    • Support on 01/31/2017
    • Support on 02/02/2017
    • Support on 02/14/2017
    • Support on 02/16/2017
    • Resistance on 02/20/2017
    • Support on 06/06/2017
    • Support on 06/07/2017
    • Resistance on 06/21/2017
    • Support on 08/11/2017
    • Resistance on 08/18/2017
    • Resistance on 08/22/2017
    • Support on 08/29/2017
    • Support on 09/05/2017
    • Support on 08/10/2018
    • Support on 08/14/2018
    • Trough on 12/10/2018
    • Support on 12/10/2018
    • Support on 02/07/2019
  • Ending of entry zone (139.90)
    • Support on 11/25/2016
    • Support on 11/30/2016
    • Support on 01/11/2017
    • Resistance on 01/17/2017
    • Support on 02/08/2017
    • Support on 02/09/2017
    • Support on 02/17/2017
    • Support on 02/20/2017
    • Support on 03/03/2017
    • Resistance on 03/06/2017
    • Resistance on 03/09/2017
    • Resistance on 03/10/2017
    • Resistance on 03/15/2017
    • Resistance on 03/20/2017
    • Resistance on 03/21/2017
    • Resistance on 03/31/2017
    • Resistance on 04/03/2017
    • Resistance on 04/18/2017
    • Resistance on 04/19/2017
    • Support on 04/25/2017
    • Support on 06/09/2017
    • Support on 06/21/2017
    • Support on 08/18/2017
    • Support on 08/22/2017
    • Support on 08/29/2017
    • Trough on 08/15/2018
    • Support on 08/15/2018
    • Support on 12/24/2018
    • Support on 12/26/2018
    • Support on 12/27/2018
    • Resistance on 01/14/2019
    • Resistance on 01/15/2019
    • Support on 01/17/2019
DateFebruary 9, 2019 - 23:33
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 139.450 would begin in Midterm.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • A peak is formed in daily chart at 144.85 on 01/25/2019, so more losses to support(s) 141.15, 139.90 and minimum to Major Support (139.45) 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.

Take Profits:

  1. 143.95
  2. 144.85
  3. 145.95
  4. 149.50
  5. 153.75
  6. 156.60
  7. 159.30
  8. 168.00
  9. 195.85
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.