Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY trades just below its highest level since December 2015 ahead of UK macro data.
GBP/JPY,D1
Pivot: 176.73
Analysis:
As long as the price is above 173.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 176.73
- Take profit 1: 178.00
- Take Profit 2: 180.00
Alternative scenario:
If the level of 173.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 173.00
- Take profit 1: 172.50
- Take profit 2: 171.00
Comment:
RSI indicates the potential for an uptrend in the medium term
Key levels:
| Resistance | Support |
| 181.00 | 173.00 |
| 180.00 | 172.00 |
| 178.00 | 161.00 |
