GBP/JPY | British Pound to Japanese Yen Trading Analysis

Source: PaxForex Premium Analytics Portal, Technical Insight

GBP/JPY has attracted buyers near the 200-DMA, rising above the 154.00 mark.

GBP/JPY,D1

Pivot: 154.33

Analysis:

As long as price is above 153.59 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 154.33
• Take profit 1: 157.88
• Take Profit 2: 160.63

Alternative scenario:

If the level of 153.59 is broken-out, follow the recommendations below:             

• Time frame: D1
• Recommendation: short position
• Entry point: 153.59
• Take profit 1: 150.48
• Take profit 2: 148.36

Comment:

RSI indicates the potential for an uptrend in the medium term.

Key levels: