Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY reclaims 184.00 on Tuesday as Yen gets yanked back down by dovish BoJ.
Pivot: 181.35
Analysis:
As long as the price is above 181.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 182.35
- Take profit 1: 184.00
- Take Profit 2: 185.50
Alternative scenario:
If the level of 181.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 181.00
- Take profit 1: 179.40
- Take profit 2: 178.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 186.50 | 181.00 |
| 185.50 | 179.40 |
| 184.00 | 178.00 |
