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Weekly forecast British Pound / Japanese Yen technical chart
Symbol GBPJPY

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateJanuary 15, 2022 - 21:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 148.610, resumption of uptrend is expected.
  • We make sure when the resistance at 158.170 breaks.
  • If the support at 148.610 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI resistance #1 at 55 is broken, so the probability of resumption of uptrend is increased.
  • A peak is formed in daily chart at 157.70 on 01/12/2022, so more losses to support(s) 154.74, 153.25, 152.31 and minimum to Major Support (148.61) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 60.

Supports and Resistances:

  1. 153.25
  2. 151.17
  3. 149.70
  4. 148.61
  5. 146.50
  6. 145.00
  7. 142.75
  8. 140.10
Click on the level to view price action history.