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GBPJPY Weekly Forex Forecast 11th November to 17th November by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 142.75, beginning of uptrend is expected.
We make sure when the resistance at 149.35 breaks.
If the support at 142.75 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A peak is formed in daily chart at 149.50 on 11/08/2018, so more losses to support(s) 146.95, 145.25, 143.55 and minimum to Major Support (142.75) 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 55.
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