GBPJPY Weekly Forex Forecast 2nd December to 8th December by yshashmi37 on TradingView.com

Midterm forecast:

While the price is above the support 143.55, beginning of uptrend is expected.
We make sure when the resistance at 149.50 breaks.
If the support at 143.55 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 143.95 on 11/21/2018, so more gains to resistance(s) 145.25, 146.95, 148.45 and maximum to Major Resistance (149.50) 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 44.

Share This