Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY spikes after dovish remarks by BoJ's Uchida and struggles to hold above the 187.00 mark.
Pivot: 186.50
Analysis:
As long as the price is below 190.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 186.50
- Take profit 1: 184.00
- Take Profit 2: 180.00
Alternative scenario:
If the level of 190.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 190.00
- Take profit 1: 192.00
- Take profit 2: 194.00
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 194.00 | 184.00 |
| 192.00 | 180.00 |
| 190.00 | 178.00 |
