Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of Japan, Momma: The central bank will maintain a soft monetary policy "for many more quarters."
GBP/JPY,D1
Pivot: 161.24
Analysis:
As long as the price is below 162.40 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 161.24
- Take profit 1: 159.10
- Take Profit 2: 156.50
Alternative scenario:
If the level of 162.40 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 162.40
- Take profit 1: 164.65
- Take profit 2: 167.00
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 159.10 |
| 164.65 | 156.50 |
| 162.40 | 154.15 |
