Source: PaxForex Premium Analytics Portal, Technical Insight

GBP/JPY climbs towards 192.80 after UK Services PMI hit an 11-month high.

Pivot: 192.80

Analysis:

As long as the price is above 188.00 follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 192.80
• Take profit 1: 194.00
• Take Profit 2: 196.00

Alternative scenario:

If the level of 188.00 is broken-down , follow the recommendations below: 

• Time frame: D1
• Recommendation: short position
• Entry point: 188.00
• Take profit 1: 186.00
• Take profit 2: 184.00

Comment:

RSI indicates the potential for an uptrend in the medium term.

Key levels: