Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of Japan, Kuroda: A rapid weakening of the yen in a short period is undesirable.
GBP/JPY,D1
Pivot: 167.32
Analysis:
As long as the price is above 162.80 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 167.32
- Take profit 1: 168.48
- Take Profit 2: 171.00
Alternative scenario:
If the level of 162.80 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 162.80
- Take profit 1: 159.60
- Take profit 2: 157.85
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 172.45 | 162.80 |
| 171.00 | 159.60 |
| 168.48 | 157.85 |
