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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.

DateJuly 20, 2019 - 15:20
Currentdowntrend
Forecastbeginning of uptrend
Last weekBearish

Midterm forecast:

  • While the price is above the support 131.50, beginning of uptrend is expected.
  • We make sure when the resistance at 137.65 breaks.
  • If the support at 131.50 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 137.78 on 07/01/2019, so more losses to support(s) 133.20 and minimum to Major Support (131.50) 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 36.

Supports and Resistances:

  1. 168.00
  2. 159.30
  3. 156.60
  4. 153.75
  5. 149.50
  6. 146.50
  7. 143.70
  8. 142.20
  9. 141.10
  10. 139.90
  11. 138.60
  12. 137.65
  13. 136.55
  14. 129.60
  15. 125.50
  16. 116.80
Click on the level to view price action history.