Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY snaps two-day winning streak around 185.30 amid the cautious mood, BoJ intervention fear.
Pivot: 185.30
Analysis:
As long as the price is above 184.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 185.30
- Take profit 1: 187.00
- Take Profit 2: 189.00
Alternative scenario:
If the level of 184.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 184.00
- Take profit 1: 182.50
- Take profit 2: 180.60
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 161.00 | 184.00 |
| 189.00 | 182.50 |
| 187.00 | 180.60 |
