Source: PaxForex Premium Analytics Portal, Technical Insight
The Bank of Japan (BOJ) Osaka branch manager said that the impact of the currency movements will depend on the structure of the business, the size of each organization.
GBP/JPY,D1
Pivot: 163.56
Analysis:
As long as the price is above 163.70 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 165.96
- Take profit 1: 167.00
- Take Profit 2: 168.80
Alternative scenario:
If the level of 163.70 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 163.70
- Take profit 1: 161.75
- Take profit 2: 160.40
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 168.80 | 161.75 |
| 167.00 | 160.40 |
| 163.70 | 159.10 |
