Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY: will remain bearish below 156.50.
GBP/JPY,D1
Pivot: 155.19
Analysis:
As long as price is above 154.07 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 155.19
- Take profit 1: 158.50
- Take Profit 2: 161.50
Alternative scenario:
If the level of 154.07 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 154.07
- Take profit 1: 150.53
- Take profit 2: 148.43
Comment:
RSI indicates the potential for uptrend in the medium term.
Key levels:
| Resistance | Support |
| 163.62 | 154.07 |
| 161.50 | 150.53 |
| 158.50 | 148.43 |
