Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY retreats from two-month highs, and drops below 185.00.
Pivot: 184.97
Analysis:
As long as the price is above 183.60 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 184.97
- Take profit 1: 185.50
- Take Profit 2: 186.80
Alternative scenario:
If the level of 183.60 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 183.60
- Take profit 1: 182.70
- Take profit 2: 181.40
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 187.50 | 183.60 |
| 186.80 | 182.70 |
| 185.50 | 181.40 |
