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GBPJPY Weekly Forex Forecast 7th October to 13th October by yshashmi37 on TradingView.com
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 145.90 would begin in Midterm.
Technical analysis:
The symmetrical triangle taking shape and as a continuation pattern suggests we will soon see another leg higher if price breaks and closes above the downtrend line of the triangle.
The RSI bounced from the resistance #1 at 68 and it prevented price from more gains.
Price is above WEMA21, if price drops more, this line can act as dynamic supportagainst more losses.
Relative strength index (RSI) is 63.
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