GBPJPY Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on

Midterm forecast:

145.80 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
Technical analysis:

The RSI support #1 at 46 is broken, so the probability of continuation of downtrend is increased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
A peak is formed in daily chart at 148.40 on 10/16/2018, so more losses to support(s) 139.45, 135.60, 129.60 and more depths 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 34.

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