GBPJPY Weekly Forex Forecast 21st October to 27th October by yshashmi37 on

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 145.80 would begin in Midterm.
Technical analysis:

The ascending flag taking shape suggests we will soon see another leg higher.
The RSI bounced from the support #1 at 46 and it prevented price from more losses.
A peak is formed in daily chart at 148.40 on 10/16/2018, so more losses to support(s) 146.95 and minimum to Major Support (145.80) 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 49.

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