GBPJPY Weekly Forex Forecast 18th November to 24th November by yshashmi37 on

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.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 149.50 on 11/08/2018, so more losses to support(s) 143.55 and minimum to Major Support (142.75) 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 42.

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