Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY trading steady near 180.00 after sinking nearly 300 pips, BoJ intervention rumored..
Pivot: 180.00
Analysis:
As long as the price is below 183.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 180.00
- Take profit 1: 179.40
- Take Profit 2: 178.00
Alternative scenario:
If the level of 183.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 183.00
- Take profit 1: 184.00
- Take profit 2: 185.50
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 185.50 | 179.40 |
| 184.00 | 178.00 |
| 183.00 | 177.00 |
