Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY continues march towards 205.00 as Yen declines extend.
Pivot: 204.82
Analysis:
As long as the price is above 201.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 204.82
- Take profit 1: 206.00
- Take Profit 2: 207.00
Alternative scenario:
If the level of 201.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 201.00
- Take profit 1: 199.00
- Take profit 2: 197.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 208.00 | 201.00 |
| 207.00 | 199.00 |
| 206.00 | 197.00 |
