Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY coils just beneath 199.00 as markets await UK CPI inflation.
Pivot: 199.48
Analysis:
As long as the price is above 195.00 follow the recommendations below
- Time frame: D1
- Recommendation: long position
- Entry point: 199.48
- Take profit 1: 200.00
- Take Profit 2: 202.00
Alternative scenario:
If the level of 195.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 195.00
- Take profit 1: 193.00
- Take profit 2: 191.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 204.00 | 195.00 |
| 202.00 | 193.00 |
| 200.00 | 191.00 |
