GBPJPY Weekly Forex Forecast 5th November to 11th 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.
A trough is formed in daily chart at 142.75 on 10/26/2018, so more gains to resistance(s) 148.45 and maximum to Major Resistance (149.35) 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 56.

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