Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY drops back closer to 186.00 mark ahead of UK CPI.
Pivot: 186.88
Analysis:
As long as the price is above 185.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 186.88
- Take profit 1: 191.00
- Take Profit 2: 194.00
Alternative scenario:
If the level of 185.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 185.00
- Take profit 1: 182.00
- Take profit 2: 180.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 196.00 | 185.00 |
| 194.00 | 182.00 |
| 191.00 | 180.00 |
