Source: PaxForex Premium Analytics Portal, Technical Insight
BoJ meeting minutes: The BoJ will continue easing if necessary.
GBP/JPY,D1
Pivot: 167.03
Analysis:
As long as the price is above 164.35 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 167.03
- Take profit 1: 168.48
- Take Profit 2: 171.00
Alternative scenario:
If the level of 164.35 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 164.35
- Take profit 1: 162.40
- Take profit 2: 159.60
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 172.00 | 164.35 |
| 171.00 | 162.40 |
| 168.48 | 159.60 |
