Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY consolidates its gain above the 184.80 mark ahead of UK CPI.
Pivot: 185.04
Analysis:
As long as the price is above 183.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 185.04
- Take profit 1: 186.00
- Take Profit 2: 187.00
Alternative scenario:
If the level of 183.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 183.00
- Take profit 1: 180.60
- Take profit 2: 179.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 188.00 | 183.00 |
| 187.00 | 180.60 |
| 186.00 | 179.00 |
