Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY drops to near 192.00 due to increasing risk aversion.
Pivot: 190.61
Analysis:
As long as the price is above 189.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 190.61
- Take profit 1: 194.00
- Take Profit 2: 196.00
Alternative scenario:
If the level of 189.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 189.00
- Take profit 1: 187.00
- Take profit 2: 185.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 198.00 | 189.00 |
| 196.00 | 187.00 |
| 194.00 | 185.00 |
