Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY falling back to 183.00 as markets await BoE, Japan Trade Balance.
Pivot: 183.10
Analysis:
As long as the price is below 184.00 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 183.10
- Take profit 1: 182.00
- Take Profit 2: 180.60
Alternative scenario:
If the level of 184.00 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 184.00
- Take profit 1: 186.00
- Take profit 2: 187.00
Comment:
RSI indicates the potential for a downtrend in the medium term.
Key levels:
| Resistance | Support |
| 187.00 | 182.00 |
| 186.00 | 180.60 |
| 184.00 | 179.60 |
