Source: PaxForex Premium Analytics Portal, Technical Insight
Japanese Prime Minister Kishida: we are likely to draw up a new stimulus program by the end of March.
GBP/JPY,D1
Pivot: 160.84
Analysis:
As long as price is above 158.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 160.84
- Take profit 1: 161.50
- Take Profit 2: 163.50
Alternative scenario:
If the level of 158.00 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 158.00
- Take profit 1: 150.48
- Take profit 2: 148.36
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 164.00 | 153.59 |
| 163.50 | 150.48 |
| 161.50 | 148.36 |
