Source: PaxForex Premium Analytics Portal, Technical Insight
Inflation in Britain may exceed the 7% mark - The Times.
GBP/JPY,D1
Pivot: 156.87
Analysis:
As long as price is above 150.97 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 156.87
- Take profit 1: 157.65
- Take Profit 2: 159.29
Alternative scenario:
If the level of 150.97 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 150.97
- Take profit 1: 146.92
- Take profit 2: 144.51
Comment:
RSI indicates the potential for uptrend in the medium term.
Key levels:
| Resistance | Support |
| 161.71 | 150.97 |
| 159.29 | 146.92 |
| 157.65 | 144.51 |
