Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY: Reversal targeting 164.28 daily support.
GBP/JPY,D1
Pivot: 167.52
Analysis:
As long as the price is above 165.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 167.52
- Take profit 1: 169.00
- Take Profit 2: 171.80
Alternative scenario:
If the level of 165.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 165.00
- Take profit 1: 163.00
- Take profit 2: 159.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 172.15 | 165.00 |
| 171.00 | 163.80 |
| 169.00 | 159.80 |
