Source: PaxForex Premium Analytics Portal, Technical Insight
Head of the Bank of England, Bailey: I don't think we will come back to a clear statement of intent.
GBP/JPY,D1
Pivot: 153.96
Analysis:
As long as price is below 157.09 follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 153.96
- Take profit 1: 152.50
- Take Profit 2: 148.94
Alternative scenario:
If the level of 157.09 is broken-out, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 157.09
- Take profit 1: 160.74
- Take profit 2: 162.91
Comment:
RSI indicates the potential for downtrend in the medium term.
Key levels:
| Resistance | Support |
| 161.91 | 152.50 |
| 160.74 | 148.94 |
| 157.09 | 146.78 |
