Source: PaxForex Premium Analytics Portal, Technical Insight
Head of the Bank of England, Bailey: the decision to raise the rate could be taken at any meeting.
GBP/JPY,D1
Pivot: 152.93
Analysis:
As long as price is below 154.15 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 154.10
- Take profit 1: 150.53
- Take Profit 2: 148.43
Alternative scenario:
If the level of 154.15 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 154.15
- Take profit 1: 158.50
- Take profit 2: 161.50
Comment:
RSI indicates the potential for downtrend in the medium term
Key levels:
| Resistance | Support |
| 161.50 | 150.53 |
| 158.50 | 148.43 |
| 154.07 | 148.00 |
