Source: PaxForex Premium Analytics Portal, Technical Insight
The GBP/JPY kicked off Tuesday trading near 182.66 before seeing a plunge lower, just missing the 181.00 handle before a quick snap rebound sent the pair into a fresh high for the day at 182.80.
Pivot: 182.60
Analysis:
As long as the price is above 181.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 182.60
- Take profit 1: 184.00
- Take Profit 2: 185.50
Alternative scenario:
If the level of 181.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 181.00
- Take profit 1: 179.40
- Take profit 2: 178.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 186.50 | 181.00 |
| 185.50 | 179.40 |
| 184.00 | 178.00 |
