Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY posts modest gains near 205.50 ahead of UK CPI data.
Pivot: 204.96
Analysis:
As long as the price is above 203.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 204.96
- Take profit 1: 207.00
- Take Profit 2: 209.00
Alternative scenario:
If the level of 203.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 203.00
- Take profit 1: 201.00
- Take profit 2: 199.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 211.00 | 203.00 |
| 209.00 | 201.00 |
| 207.00 | 199.00 |
