Source: PaxForex Premium Analytics Portal, Technical Insight
The monthly upbeat UK jobs data underpins the Sterling and acts as a tailwind for the cross.
GBP/JPY,D1
Pivot: 161.98
Analysis:
As long as the price is above 158.50 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 161.98
- Take profit 1: 163.00
- Take Profit 2: 165.00
Alternative scenario:
If the level of 158.50 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 158.50
- Take profit 1: 155.00
- Take profit 2: 152.50
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 167.00 | 158.50 |
| 165.00 | 155.00 |
| 163.00 | 152.50 |
