ForecastCity

Excellent Long-Term Trading Opportunity in GBPJPY, Don't miss it

Short
FX:GBPJPY   Livre sterling / Yen japonais
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 152.80 would begin in Midterm.
Price may also reach 152.80, if price reaches this level, we may enter by Daily-Trading-Opportunities, this entry is not according to our Strategy, and depends on personal strategies.

Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (147.75 to 150.15), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

. Beginning of entry zone (147.75)
. Ending of entry zone (150.15)

Technical analysis:
A peak is formed in daily chart at 150.95 on 02/21/2018, so more losses to support(s) 144.45, 142.20, 139.30 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 35.

Take Profits:
145.95
144.45
142.20
139.30
136.90
132.30
129.60
125.50
116.80

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