Source: PaxForex Premium Analytics Portal, Technical Insight
Kuroda, Bank of Japan: it's too early to discuss an exit strategy for the easing policy.
GBP/JPY,D1
Pivot: 161.75
Analysis:
As long as price is above 158.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 161.75
- Take profit 1: 163.50
- Take Profit 2: 164.70
Alternative scenario:
If the level of 158.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 158.00
- Take profit 1: 155.15
- Take profit 2: 152.85
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 165.50 | 158.00 |
| 164.70 | 155.15 |
| 163.50 | 152.85 |
