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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 (136.65 to 135.60). 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 (136.65)
    • Support on 06/30/2016
    • Resistance on 07/05/2016
    • Support on 07/13/2016
    • Support on 07/14/2016
    • Support on 07/26/2016
    • Support on 09/02/2016
    • Support on 09/06/2016
    • Resistance on 11/15/2016
    • Resistance on 11/16/2016
    • Support on 11/21/2016
    • Support on 01/16/2017
    • Support on 04/11/2017
    • Support on 04/12/2017
    • Support on 04/18/2017
  • Ending of entry zone (135.60)
    • Support on 06/30/2016
    • Support on 07/01/2016
    • Support on 07/04/2016
    • Support on 09/01/2016
    • Support on 09/07/2016
    • Support on 09/08/2016
    • Support on 09/09/2016
    • Support on 09/12/2016
    • Resistance on 09/15/2016
    • Resistance on 11/14/2016
    • Support on 11/17/2016
    • Support on 11/18/2016
    • Support on 04/17/2017
    • Support on 01/03/2019
    • Support on 01/04/2019

DateJune 1, 2019 - 19:49
Currentdowntrend
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 135.600, beginning of uptrend is expected.
  • We make sure when the resistance at 139.900 breaks.
  • If the support at 135.600 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • While the RSI downtrend #1 is not broken, bearish wave in price would continue.
  • A peak is formed in daily chart at 146.50 on 05/03/2019, so more losses to support(s) 136.65 and minimum to Major Support (135.60) 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 18.

Take Profits:

  1. 137.65
  2. 138.60
  3. 139.90
  4. 141.10
  5. 142.20
  6. 143.70
  7. 146.50
  8. 149.50
  9. 153.75
  10. 156.60
  11. 159.30
  12. 168.00
Click on the level to view price action history.