Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY ticks higher to 180.70-75 area ahead of UK CPI, focus remains on BoE on Thursday.
GBP/JPY,D1
Pivot: 181.35
Analysis:
As long as the price is above 177.50 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 181.35
- Take profit 1: 182.00
- Take Profit 2: 184.00
Alternative scenario:
If the level of 177.50 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 177.50
- Take profit 1: 176.00
- Take profit 2: 174.60
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 185.00 | 177.50 |
| 184.00 | 176.00 |
| 182.00 | 174.60 |
