Source: PaxForex Premium Analytics Portal, Technical Insight
Uchida, Bank of Japan: continuing to support the economy with massive monetary policy easing.
GBP/JPY,D1
Pivot: 162.36
Analysis:
As long as price is below 162.20 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 160.75
- Take profit 1: 159.50
- Take Profit 2: 157.60
Alternative scenario:
If the level of 162.20 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 162.20
- Take profit 1: 164.62
- Take profit 2: 168.45
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 168.45 | 159.50 |
| 164.62 | 157.60 |
| 162.20 | 155.45 |
