Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY grinds back above 197.00 after suspected BoJ Yen intervention.
Pivot: 192.80
Analysis:
As long as the price is above 193.50 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 196.91
- Take profit 1: 198.00
- Take Profit 2: 200.00
Alternative scenario:
If the level of 193.50 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 193.50
- Take profit 1: 191.00
- Take profit 2: 189.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 202.00 | 193.50 |
| 200.00 | 191.00 |
| 198.00 | 189.00 |
