Source: PaxForex Premium Analytics Portal, Technical Insight

According to HSBC, monetary and fiscal policy will put pressure on the pound. 

GBP/JPY,D1

Pivot: 151.33

Analysis:

As long as price is above 149.14 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 151.33
• Take profit 1: 152.50
• Take Profit 2: 156.27

Alternative scenario:

If the level of 149.14 is broken-down, follow the recommendations below:    

• Time frame: D1
• Recommendation: short position
• Entry point: 149.14
• Take profit 1: 145.74
• Take profit 2: 143.72

Comment:

RSI indicates the potential for growth in the medium term.

Key levels: