Source: PaxForex Premium Analytics Portal, Technical Insight
Bank of Japan meeting minutes: Central Bank officials discussed the effect of the weak JPY on the economy.
GBP/JPY,D1
Pivot: 151.37
Analysis:
As long as price is above 147.06 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 151.37
- Take profit 1: 152.50
- Take Profit 2: 154.86
Alternative scenario:
If the level of 147.06 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 147.06
- Take profit 1: 143.49
- Take profit 2: 141.36
Comment:
RSI indicates the potential for uptrend in the medium term.
Key levels:
| Resistance | Support |
| 157.00 | 147.06 |
| 154.86 | 143.49 |
| 152.50 | 141.36 |
