Source: PaxForex Premium Analytics Portal, Technical Insight
GBP/JPY plunges below 201.00 as Yen recovery continues.
Pivot: 199.28
Analysis:
As long as the price is above 197.00 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 199.28
- Take profit 1: 202.00
- Take Profit 2: 204.00
Alternative scenario:
If the level of 197.00 is broken-down , follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 197.00
- Take profit 1: 195.00
- Take profit 2: 193.00
Comment:
RSI indicates the potential for an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 207.00 | 197.00 |
| 204.00 | 195.00 |
| 202.00 | 193.00 |
